Associated British Foods

Ticker ABF

Today's data summary

Market open
% change
-0.61%
Price Pence
2271.00
Change
-14.00
As of 12:09 21 Sep 2018
Market cap. Pound sterling
17,994.75 million
As of 12:09 21 Sep 2018

Latest updates

Mixed picture for Primark-owner

Primark
Getty Images

Primark continues to defy problems on the High Street. It is expected to raise like-for-like sales in the UK by 1.5% for its financial year, which ends on 15 September.

However, Primark has operations across Europe and like-for-like sales in northern Europe fell, due to "unseasonable weather during three periods this year".

Primark is owned by Associated British Foods (ABF), which earns two-thirds of its profits outside the UK. It said that due to currency moves it expects extra costs of £20m.

However, ABF said its full year trading outlook remains unchanged.

Good morning!

Welcome to Business Live.

Expect a bit of everything today. The Office for National Statistics will publish its monthly GDP estimate for July as well as the rolling three-month reading.

Primark-owner Associated British Foods will provide an update on its trading.

And watch out for Debenhams - it emerged at the weekend that the department store chain had retained KPMG to advise it on options for its future. Keep an eye on Debenhams share price this morning.

As always, we'd love to hear from you. Email Business Live at bizlivepage@bbc.co.uk

Looking ahead to JD and ABF...

BBC Radio 5 live

Wake Up To Money

Finish Line store
Finish Line

JD Sports and Primark-owner Associated British Foods are both expected to buck the recent trend of difficult results for retailers today.

Sophie Kilvert of Seven Investment Manager told Wake Up To Money that one thing to look out for from JD Sports was an update of their takeover of US chain The Finish Line.

"Primark now makes most of the profit for ABF and it is a successful discounter approach," she said. "You know their clothes are really cheap and you know what you're going to get when you go there. They're at the right price point for people at the moment."

But it will be interesting to see how their expansion into Europe and the US is going, she said.