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2012 Annual Results Announcement

6 November 2012

ABF delivers a strong set of results

Financial Highlights

  • Group revenue up 11% to £12.3bn
  • Adjusted operating profit up 17% to £1,077m*
  • Adjusted profit before tax up 17% to £974m**
  • Adjusted earnings per share up 18% to 87.2p**
  • Dividends per share up 15% to 28.5p
  • Net capital investment of £707m
  • Net debt of £1,061m
  • Operating profit up 4% to £873m, profit before tax level at £761m and basic earnings per share up 2% to 70.3p

George Weston, Chief Executive of Associated British Foods, said:

“These are very good results for the group and include exceptional performances from AB Sugar and Primark. Global economic uncertainty remains but we have opportunities for further investment and the strength of the group balance sheet and a strong cash flow will enable us to pursue them with confidence.”

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

All adjustments to profit measures are shown on the face of the consolidated income statement.

For further information please contact:

Associated British Foods:
Until 15.00 only

John Bason, Finance Director
Tel: 020 7638 9571

Chris Barrie/Nicola Swift, Citigate Dewe Rogerson
Tel: 020 7638 9571

Jonathan Clare
Tel: 07770 321881

After 15.00
John Bason, Finance Director
Tel: 020 7399 6500

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