1214 GMT - Primark owner Associated British Foods has little to cheer about, Panmure Liberum analysts Anubhav Malhotra and Wayne Brown say in a note. The British conglomerate reported weak results for its fiscal first half, they say. The bigger miss was at the group's sugar business, as the company lowered the guidance and now expects the division report an adjusted operating loss of up to 40 million pounds. The cut could imply a downgrade to consensus earnings between 6% and 7%, the analysts say. A sale or carve out of the volatile sugar business into a separate entity would make the investment case more compelling, they add. Shares are down 7.8%. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
April 29, 2025 08:14 ET (12:14 GMT)
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