Primark owner to raise game in explaining merits of food businesses, CEO says [Reuters]
ASSOCIATED BRI/F UNSP/ADR (ASBFY)
NASDAQ:AMEX Investor Relations:
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Source: Reuters
potential and value of its food businesses and must do better, its chief executive told Reuters. As well as owning the fashion chain, the FTSE 100 group is one of Britain's biggest owners of grocery brands and also runs major sugar, ingredients and agriculture businesses. It operates in 55 countries, employing 133,000. While over half of the group's annual sales of 20 billion pounds ($25 billion) are generated by the food businesses, they receive disproportionately little attention from investors and the media whose focus is trained on Primark. George Weston, CEO since 2005, said going forward he would place a greater emphasis on communicating the importance of the food businesses as investors lacked a good understanding of the portfolio, and he plans to say more this year. He is also looking to make more acquisitions. "It's seen as being a rag-tag collection of unrelated food businesses. It's not. There's a lot more method to it than I think parts of the outside world would u
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