Food & tobacco
Associated British Foods is a diversified international food, ingredients, agriculture and retail group. Its best-known business is Primark, alongside grocery brands, sugar, ingredients and agricultural operations, giving the group exposure to both consumer spending and food-commodity economics.
Primark fashion retailing, branded and private-label grocery products, sugar production, food and feed ingredients, and agricultural products and services. The group is preparing for a planned separation of Primark from the food businesses.
The UK and Europe are central markets, with additional operations and sales across the Americas, Africa and Asia. Customers include consumers, supermarkets, food manufacturers, farmers and industrial users.
Primark sales and store expansion, consumer demand, grocery volumes and pricing, sugar prices, energy and agricultural input costs, currency movements, margins and execution of the planned Primark demerger.
Weak consumer spending, fashion inventory risk, volatile sugar and commodity prices, energy and labour costs, weather and crop conditions, foreign exchange movements, supply-chain disruption and demerger execution.
21 April 2026: the Board decided to demerge Primark from the food businesses, targeting completion before the end of 2027 subject to approvals. Shareholders are intended to own shares in both listed companies after the separation.
Normally pays interim and final dividends. The 2026 interim dividend was 20.7p per share, unchanged year on year; it went ex-dividend on 28 May 2026 and was paid on 3 July. Future distributions will also reflect the planned separation of Primark.
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