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The Latest Breaking News from Associated British Foods

Consumer caution dampens Primark results as owner ABF reports profits hit

ABF group revenue was down 2% at $12.7 billion, and adjusted profit before tax was also down 10% from $1.2 billion the previous year to £818 million $1.09 billion.

Fortune

Around 150 jobs at risk as ABF warns bioethanol plant could close

The Vivergo fuels site in Saltend, near Hull, swung to a loss in recent months after it cut production levels in light of low bioethanol prices.

Evening Standard

Primark says it is not raising prices despite tax and wage cost hikes

It came as parent firm Associated British Foods said it saw ‘weaker sales’ across the budget fashion chain’s UK and Ireland stores.

The Independent UK

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Primark Boss Resigns After Inappropriate Behaviour Allegation

Primark chief executive Paul Marchant has resigned following a company investigation into his behaviour toward a woman "in a social environment", the budget fashion chain's owner Associated British Foods (ABF) announced Monday.

International Business Times

Who is Paul Marchant? Primark boss steps down after allegations of inappropriate behaviour

Under his leadership, Primark launched the Supporting Women for Life initiative

Evening Standard

Primark boss steps down over inappropriate behaviour allegation

Paul Marchant “acknowledged his error of judgement”, said Primark owner Associated British Foods on Monday.

Euronews

Primark boss Paul Marchant quits over ‘behaviour towards woman’

Marchant had led the fast fashion chain since 2009

The Independent UK

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Primark boss Paul Marchant resigns over inappropriate behaviour

The retailer’s parent firm Associated British Foods said the chief executive admitted to an ‘error of judgment’.

Evening Standard

Primark boss admits ‘error of judgment’ and resigns after woman’s allegation

Paul Marchant accepts behaviour fell below standards expected at owner Associated British Foods

The Guardian - UK

Primark owner to shed light on high street Christmas trading

Associated British Foods (ABF) will also reveal whether the consumer group has been affected by recent weakness in sugar prices.

Evening Standard

BT reveals prices will be reviewed under efforts to offset £100m Budget blow

The group joins the likes of Sainsbury’s, Marks & Spencer and Primark owner Associated British Foods in revealing soaring costs from Budget measures.

Evening Standard

Primark boss says weight of Budget tax rises ‘falling on high street’

George Weston, the chief executive of Primark owner Associated British Foods, said it was preparing for a big jump in business costs.

Evening Standard

Primark earnings jump higher despite weather hit to summer ranges

Owner Associated British Foods reported a 53% rise in operating profits at Primark, to £1.1 billion over the year to September 14.

Evening Standard

FTSE 100 Live 05 November: Vodafone merger boost, Primark owner rallies but ASOS posts big loss

The merger of Vodafone and Three today moved a step closer after the companies were told a huge 5G rollout could alleviate competition concerns.

Evening Standard

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Evening Standard

FTSE 100 Live 23 January: London top flight closes down two points after borrowing comes in below expectations

Low-cost airline easyJet today revealed a £40 million hit from the Middle East crisis but still reduced losses to £126 million in the final quarter of the year.

The Guardian - UK

UK food inflation may be gone by Easter, claims boss of major retailer

Upbeat comments by Associated British Foods CEO come as grocery price rises fall to single digits for first time in 18 months

The Independent UK

Primark drives strong sales at AB Foods as shoppers shrug off price hikes

Associated British Foods which also runs large grocery, ingredients and agriculture operations, said the backdrop is still ‘challenging’.

The Guardian - UK

Primark owner upgrades profit outlook as shoppers seek holiday outfits

Associated British Foods says group sales rose by 16% with steeper prices helping to drive Primark’s growth

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The Guardian - UK

UK fixed mortgage rates rise to seven-month highs – as it happened

Rolling coverage of the latest economic and financial news

Birmingham Post

Primark owner Associated British Foods buys National Milk Records for £48m

NMR, which has its head office in Wiltshire, provides provides milk and cow health testing and data services for farmers, milk buyers and vets

Evening Standard

FTSE 100 Live: ‘Unease is spreading across the banking sector again’; FTSE closes at 7,891.13

GSK, housebuilder Persimmon and the consumer products group Reckitt Benckiser are among the blue-chips updating investors today.

The Guardian - UK

Primark expects higher profits as people shop early for summer

Associated British Foods says six-month figures helped by stronger-than-expected clothing performance

Evening Standard

FTSE 100 Live: Pound tops $1.20 as Brexit NI deal reached, new Ofgem energy price cap revealed

Associated British Foods today said it had been boosted by better-than-expected trading at retail division Primark.

Manchester Evening News

Greater Manchester's lost supermarkets we no longer see on the high street

For many, these were the first places we ever shopped

The Guardian - UK

UK grocery inflation hits 14.7%; recession looms as housing market weakens – as it happened

UK households face £682 rise in annual grocery bill as prices soar, and there’s ‘no peak in sight’

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