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The Latest Breaking News from Associated British Foods

Primark names former Marks and Spencer chief as permanent CEO amid potential demerger

Owner Associated British Foods (ABF) is also considering a potential demerger of the popular retail chain

The Independent UK

Primark appoints new permanent boss as parent firm reviews spin-off

Eoin Tonge has been named permanent boss of Primark after predecessor Paul Marchant resigned over an allegation of inappropriate behaviour last year.

Evening Standard

The Primark machine suffers a continental splutter at a bad moment

Big fall in sales in rest of Europe means split from owner’s food businesses would be distraction best avoided for year or two

The Guardian - UK

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FTSE 100 flat as AB Foods and Tesco disappoint

The FTSE 100 index closed down 3.52 points at 10,044.69.

Evening Standard

CMA begins full review of Kingsmill owner’s planned takeover of bread rival Hovis

Move by UK competition regulator comes as Associated British Foods, which owns Primark, issues profit warning

The Guardian - UK

Primark owner warns over profits after disappointing festive sales

The figures come amid a group-wide review at Associated British Foods that could see Primark spun off with a separate stock market listing.

Evening Standard

Primark warns of lower profits after Christmas sales failed to deliver

Primark’s disappointing Christmas comes after the departure of its long standing boss Paul Marchant in March

Evening Standard

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Competition and Markets Authority to probe ABF’s deal to buy Hovis

In August, Associated British Foods (ABF) struck a deal to buy the 135-year-old business from US private equity owner Endless.

Evening Standard

Hovis takeover bid investigated by competition watchdog

The proposed deal would create a major player in the baking sector

The Independent UK

AB Foods considers spinning off Primark after annual profits fall

Associated British Foods announced a review of the structure of the group alongside its full-year financial results.

Evening Standard

Primark owner delivers warning to Rachel Reeves over ‘mistaken’ rate changes

Chancellor Rachel Reeves faces the daunting task of boosting Treasury revenues to address a potential £40 billion deficit in state finances

The Independent UK

FTSE 100 closes lower as geopolitical issues worry investors

Nato fighter jets shot down Russian drones over Polish airspace for the first time.

Evening Standard

FTSE 100 Live 10 September: Shares setback for Primark owner, Vistry profits slump

The performance of retail chain Primark is in focus after owner Associated British Foods published an update today.

Evening Standard

High street giants to reveal sales as bosses warn over rising costs

Primark’s owner Associated British Foods and John Lewis Partnership are set to give investors an update on recent trading.

Evening Standard

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Evening Standard

High street giants to reveal sales as bosses warn over rising costs

Primark’s owner Associated British Foods and John Lewis Partnership are set to give investors an update on recent trading.

Evening Standard

Stocks dip amid Trump’s Fed move and French worry

The FTSE 100 index closed down 55.60 points, 0.6%, at 9,265.80.

The Guardian - UK

UK retail shares fall amid fears of squeeze in consumer spending

Parent groups of Primark and B&Q hit as analysts say jobs and inflation concerns could affect sales

The Guardian - UK

UK’s largest bioethanol plant to shut after blow from Starmer’s trade deal with Trump

Associated British Foods says 160 jobs will be lost at Vivergo site in Hull after ministers refuse to fund rescue

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The Guardian - UK

Kingsmill owner to buy Hovis in £75m deal to create UK’s biggest bread brand

Jobs expected to go if competition watchdog approves takeover by Associated British Foods

Evening Standard

FTSE 100 thrives but tariff threat hurts Europe

US President Donald Trump on Saturday said major trading partners Mexico and the EU would face a 30% tariff starting next month.

The Guardian - UK

Britain’s biggest biofuel plant could close over impact of UK-US trade deal

ABF threatens to shut Vivergo site in Hull in September amid warnings bioethanol industry could collapse

The Guardian - UK

Baking a deal? Hovis and Kingsmill owners in talks about historic merger

Associated British Foods’ sale of Allied Bakeries would bring together two of the UK’s biggest breadmakers

The Independent UK

Hovis and Kingsmill owners in takeover talks about historic merger

A deal between the bread-making titans could potentially draw the attention of competition regulators

Evening Standard

Kingsmill owner confirms talks with Hovis parent company over bread takeover

Associated British Foods said its Allied Bakeries business ‘continues to face a very challenging market’ and that it is in talks with Hovis’s owner.

Fortune

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.

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