Chairman’s Address to AGM
7 December 2012
At the Annual General Meeting today (7 December 2012) Mr Charles Sinclair, Chairman of Associated British Foods, in addressing shareholders made the following comments on current trading for the group since the close of the financial year ended 15 September 2012:
“Trading for the group in the first two months of the new financial year has been good, primarily driven by Primark, where the momentum that delivered the strong finish to last year has continued, but the critical Christmas trading period lies ahead.
“In the conclusion to my statement in the annual report I said that we expected a reduction in profit from AB Sugar for the full year, as a result of our lower EU production, but this would be more than offset by further growth at Primark and some recovery in Grocery. This continues to be our view.
“We expect the group to make some further progress in this new financial year but, in contrast to last year, this will be weighted towards the first half.”
For further enquiries please contact:
Associated British Foods
John Bason, Finance Director
Tel: 020 7399 6500
Citigate Dewe Rogerson
Chris Barrie, Nicola Swift, Clare Simonds Tel: 020 7638 9571
Jonathan Clare Tel: 07770 321881