As­so­ci­ated Bri­tish Foods

In­vestors Chron­i­cle

The Week Middle East - - City -

The food and cloth­ing con­glom­er­ate’s re­ported re­turns look solid, but prob­lems linger. Mar­gins are un­der pres­sure at Pri­mark, and the re­moval of Euro­pean quo­tas in 2017 could af­fect su­gar prices. Sell. £26.38.

Hal­fords

The Mail on Sun­day De­spite strong bi­cy­cle sales, weak ster­ling has hit Hal­fords’ prof­its. Liberum be­lieves the re­tailer is a “good busi­ness” but finds the share price un­jus­ti­fi­able given that there is no profit growth. Sell. 317.1p. The pub­lish­ing and events firm’s core ex­hi­bi­tions busi­ness is per­form­ing well. Shares are up sharply since the com­ple­tion of the £1.2bn pur­chase of Pen­ton In­for­ma­tion Ser­vices: take prof­its. Sell. 679.5p.

Ox­ford BioMed­ica

In­vestors Chron­i­cle This gene ther­apy biotech is a “no­to­ri­ous cash guz­zler”, with hefty debt lev­els. Af­ter two decades of op­er­a­tion, it still hasn’t com­mer­cialised its po­ten­tial, and clin­i­cal tri­als re­main in very early stages. Sell. 3.8p.

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