AB Foods: 2012 Interim Results Announcement

London / UK. (abf) Food, ingredients and retail group Associated British Foods PLC (ABF) delivers adjusted earnings growth of five percent, the group said in a short statement. Highlights:

  • Group revenue up eleven percent to 5’766 million GBP
  • Adjusted operating profit up six percent at 412 million GBP *
  • Adjusted profit before tax up three percent to 363 million GBP **
  • Adjusted earnings per share up five percent at 34,4 GBPence **
  • Dividend per share up eight percent to 8,5 GBPence
  • Net debt 1’592 million GBP after net capital investment of 326 million GBP
  • Operating profit up six percent to 378 million GBP, profit before tax up three percent at 329 million GBP and basic earnings per share up four percent to 31,7 GBPence

George Weston, Chief Executive of AB Foods: «The group delivered good growth in revenue and profit. AB Sugar and Primark both performed strongly, demonstrating continuing momentum. We expect substantial growth in both adjusted operating profit and adjusted earnings per share for the group for the full year».

* before amortisation of non-operating intangibles and profits less losses on the disposal of non-current assets;
** before amortisation of non-operating intangibles, profits less losses on the disposal of non-current assets, and profits less losses on the sale and closure of businesses.

All figures stated after amortisation of non-operating intangibles, profits less losses on the disposal of non-current assets, and profits less losses on the sale and closure of businesses are shown on the face of the condensed consolidated income statement.