date:Sep 11, 2012
o 85.5p.
As expected, sugar is the key driver of growth for the group, although Primark has seen an impressive acceleration in top-line growth and an improvement in margins in H2 [the second half]. Net debt had fallen from 1.3bn to below 1.2bn, slightly better than expected, he added.
Graham concluded: ABF will deliver deliver impressive earnings growth in 2012, driven by a significant rise in sugar profits. But it is Primarks long-term growth potential in continental Europe that most excites