A year of focus on shareholder returns

Our purpose is to provide safe, nutritious and affordable food, and clothing that is great value for money.

We deliver this through ABF’s diverse portfolio of international food, ingredients and retail businesses, which have a significant presence in Europe, the Americas, Australia, Africa and Asia.

We take a long-term, patient approach to drive sustainable growth, cash generation and strong returns across our businesses to create value for all stakeholders. This aligns with our approach to sustainability, where we focus on what matters and where we can make a difference.



Tracking our progress

As at 13 September 2025

138,000

Employees worldwide

Operating in

56

countries

Customers in

100+

countries


£19.5bn

Group revenue

£1,734m

Adjusted operating profit*

£1,244m

Gross investment*


141.6p

Basic earnings per share

£1,483m

Operating profit

£1,413m

Profit before tax


£1,696m

Adjusted profit before tax*

174.9p

Adjusted earnings per share*

£390m

Net cash before lease liabilities*


£2,629m

Net debt including lease liabilities*

15.5%

Return on average capital employed* (‘ROACE’) 

63.0p

Dividends per share


57%

Women in the workforce

2,410kt

ABF Group scope 1 & 2 (market-based)

473

Primark stores and 19.5m sq ft of selling space


*Alternative Performance Measures (APMs) as defined on pages 219 to 223 in the Annual Report.


Chairman's statement

This year the Group delivered a set of financial results that reflected a volatile consumer environment and macro-economic headwinds.”

Michael McLintock

Chairman


Chief Executive’s statement

This has been a year of intense activity within the Group on the one hand and, on the other hand, geopolitical uncertainties and economic headwinds outside the Group.”

George Weston

Chief Executive


Understanding our business

Our purpose defines our culture and values it informs our Group strategy, which is realised through our business strategies and is delivered by our operating model. 


Our operating model

 

Central leadership team

  • Fosters a strong sense of purpose, culture and values, and drives long-term thinking​
  • Co-creates business strategy and maintains continuous dialogue on performance, risks and opportunities 
  • Deploys capital based on a rigorous review of investments returns​
  • Provides central support and creates a framework for Group-wide
knowledge-sharing and collaboration​
  • Provides central capability and scale in areas such as IT, treasury and procurement​
  • Oversees business leadership, drives talent development and enables
Group-wide career opportunities

 

 

Devolved operational leadership

  • Strategic and financial objectives are set from the bottom up 
  • Operational decisions are taken locally by the people closest to their customers and markets​
  • ESG priorities reflect the materiality and impact for the Group and for individual businesses

Portfolio highlights




Downloads

ABF Annual Report Book Cover

Full Annual Report
Strategic Report
Governance Report
Annual Report and Accounts 2025 ESEF (ZIP)


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