Overview

• ABF said Primark’s total sales rose about 1% in the half to Sept 13, while like-for-like sales fell around 2% due to weaker demand across continental Europe.
• The trading update knocked ABF’s shares by roughly 10% intraday on Sept 10, with some reports citing declines of up to about 12%.
• Primark delivered about 23% sales growth in the US and opened 15 new stores in the half, mostly in America, including two new UK locations.
• ABF expects an adjusted operating loss near £40 million in Sugar, citing persistently low European prices, high beet costs, and the recent closure of the Vivergo bioethanol plant.
• The company is selectively raising prices in the US to offset tariffs and does not plan UK price increases before Christmas, while Grocery revenue is broadly flat and profit is lower due to restructuring costs.