SHARE PRICE: 2579.00 -1.00 close, 16 Jan 2017 15 MINS DELAY

2016 Annual Results Announcement

Heading

8 November 2016

Adjusted earnings per share 5% ahead

Financial Headlines

Actual
Constant
currency1

Group revenue £13.4bn

+5%

+4%

Adjusted operating profit £1,118m*

+3%

+3%

Adjusted profit before tax up 5% to £1,071m**

Adjusted earnings per share up 5% to 106.2p**

Dividends per share up 5% to 36.75p



Gross investment of £1bn



Net debt £315m



With the benefit of substantially lower losses on sale of businesses and reduced exceptional charges this year, operating profit was up 18% to £1,103m, profit before tax up 47% to £1,042m and basic earnings per share up 55% to 103.4p

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

“This has been a year of progress for all of our businesses with a substantial expansion in Primark’s selling space, increased margins in all of the food businesses and fundamental structural changes at AB Sugar. The recent decline in the value of sterling presents both benefits and challenges to the group. The diversity of our operations and our broad geographical footprint, combined with a strong balance sheet, equip us well to take advantage of these opportunities as they arise.”

* 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 sale and closure of businesses and exceptional items.

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

1 Constant currency is derived by translating the 2015 results at 2016 average exchange rates.

For further information please contact:

Until 15.00 only
Associated British Foods:

John Bason, Finance Director
Flic Howard-Allen, Head of External Affairs
Tel: 020 7638 9571

Citigate Dewe Rogerson:

Chris Barrie, Eleni Menikou
Tel: 020 7638 9571
Jonathan Clare
Tel: 07770 321881

After 15.00

John Bason, Finance Director
Flic Howard-Allen, Head of External Affairs
Tel: 020 7399 6500

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