MARKET TALK: AB Foods Trading Robust, Primark Stands Out

8th Jul 2010 08:17

0717 GMT [Dow Jones] AB Foods (ABF.LN) trading remains robust, says Charlie Mills at Credit Suisse, with the standout division being Primark. Says same-store sales growth looks to still be around 7%-8%, while margins have grown, "so retail profits look set to be well ahead of our estimates." He raises his FY pretax profit expectations GBP10M to GBP805M, "though we don't expect the consensus to move materially." Rates at neutral, with 1030p target price. Shares +1.6% at 996p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 08, 2010 03:17 ET (07:17 GMT)