{"id":8386,"date":"2012-02-27T14:39:36","date_gmt":"2012-02-27T12:39:36","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/update-2-ab-foods-profit-growth-driven-by-primark-and-sugar\/"},"modified":"2012-02-27T14:39:36","modified_gmt":"2012-02-27T12:39:36","slug":"update-2-ab-foods-profit-growth-driven-by-primark-and-sugar","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-ab-foods-profit-growth-driven-by-primark-and-sugar\/","title":{"rendered":"UPDATE 2-AB Foods profit growth driven by Primark and sugar"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* AB Foods sees half year operating profits growing<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Sees Primark like-for-like H1 sales up 2 percent<\/p>\n<p><span><\/span><\/p>\n<p>* Sees no slowdown in Primark, Spain strong<\/p>\n<p><span><\/span><\/p>\n<p>* Says sugar sees exceptionally strong performance<\/p>\n<p><span><\/span><\/p>\n<p>* Shares fall 1.7 percent in early trade<\/p>\n<p><span><\/span><\/p>\n<p>By David Jones<\/p>\n<p><span><\/span><\/p>\n<p>LONDON, Feb 27 (Reuters) &#8211; Primark-owner Associated<br \/>\nBritish Foods expects growth in its half year profits to<br \/>\nbe driven by its discount fashion chain, which has gained as<br \/>\nunder-pressure British shoppers seek out bargain prices, and by<br \/>\na strong performance from sugar.<\/p>\n<p><span><\/span><\/p>\n<p>Western European shoppers have cut back on spending as<br \/>\nunemployment has risen and wage rises stagnate, but Primark<br \/>\nwhich earns a third of the group&#8217;s profits, has faired better<br \/>\nthan most with its offer of cheap chic along the high street.<\/p>\n<p><span><\/span><\/p>\n<p>Primark&#8217;s closely-watched like-for-like sales growth in its<br \/>\nfirst half slowed to 2 percent, slightly below both a consensus<br \/>\nand a previous year&#8217;s performance of 3 percent, while its<br \/>\n20-plus stores in Spain saw like-for-likes up around 5 percent.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* AB Foods sees half year operating profits growing * Sees Primark like-for-like H1 sales up 2 percent * Sees no slowdown in Primark, Spain strong * Says sugar sees exceptionally strong performance * Shares fall 1.7 percent in early trade By David Jones LONDON, Feb 27 (Reuters) &#8211; Primark-owner Associated British Foods expects growth [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-8386","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8386","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=8386"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8386\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}