ABF: Group revenue up 12 percent in FY 2009

London / UK. (abf) Food, ingredients and retail group Associated British Foods PLC (ABF) delivers good results in difficult economic times – the company said in its 2009 annual results statement. Chief Executive George Weston: «We have consistently developed the group through investment and this year it enabled the delivery of good results in difficult economic times. The pace of development activity has increased and all our businesses are well equipped to deliver future growth». Financial highlights:

• Group revenue up twelve percent to 9,3 billion GBP.
• Adjusted operating profit up eight percent to 720 million GBP (before amortisation of non-operating intangibles, profits less losses on the sale of property, plant + equipment, inventory fair value adjustment and exceptional items).
• Adjusted profit before tax up four percent to 655 million GBP (before amortisation of non-operating intangibles, profits less losses on the sale of property, plant + equipment, inventory fair value adjustment, profits less losses on the sale and closure of businesses and exceptional items).
• Adjusted earnings per share up five percent to 0,577 GBP (before amortisation of non-operating intangibles, profits less losses on the sale of property, plant + equipment, inventory fair value adjustment, profits less losses on the sale and closure of businesses and exceptional items).
• Dividends per share up four percent to 0,21 GBP.
• Net investment in capital expenditure and acquisitions less disposals of 832million GBP.
• Net debt of 999 million GBP.
• Operating profit up 13 percent to 625 million GBP, profit before tax down six percent to 495 million GBP (unadjusted profit before tax includes a 65 million GBP loss on the closure of businesses) and basic earnings per share up one percent to 0,455 GBP.

Info: 2009 Annual Results Announcement (PDF, 35 pages, 175 KB).