Four to buy
Associated British Foods
This diversified fashion-to-foods business is heading for “significant earnings growth” as margins recover amid cooling inflation. Budget fashion chain Primark has been seizing market share as consumers feel the pinch and is opening new stores across the US and Europe. An improved UK sugar beet crop should help the foods division, while sales of branded products such as Twinings tea and Ovaltine continue to hold up well. On 11.5 times earnings
