Associated British Foods Plc expects the year-end net cash balance to be more than £750 million

Associated British Foods Plc (LON: ABF) in its trading update has informed about the reopening of Primark Stores and improved Group Cash Flow.

  • For the 12-week period from 1 March to 23 May, the company has stated that the net cash outflow for Primark was around £800 million.
  • Almost all Primark stores have resumed trading and the adjusted operating profit, (excluding exceptional charges), are expected to be in a range £300-350 million for the full year versus £913 million for the previous financial year.
  • The company’s current expectation is that the year-end net cash balance (before lease liabilities) may surpass £750 million as Primark resumed trading.

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