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2010 Interim Results Announcement

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20 April 2010

 

ABF’s substantial investment delivers strong growth

Highlights

  • Group revenue up 10% to £4,796m
  • Adjusted operating profit up 25% at £370m*
  • Adjusted profit before tax up 20% to £331m **
  • Adjusted earnings per share up 21% at 30.5p **
  • Dividend per share up 10% to 7.6p
  • Net debt of £1,090m
  • Operating profit up 29% to £336m, profit before tax up 80% to £320m and basic earnings per share up 80% to 31.6p


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


“The investments made in recent years are now delivering very satisfying returns throughout the group.  Our Sugar business has been transformed, our brands and marketing strategies are driving growth in Grocery, the broad geographic base continues to drive momentum in Ingredients, and Primark goes from strength to strength.”

* before amortisation of non-operating intangibles and profits less losses on the sale of property, plant and equipment
** before amortisation of non-operating intangibles, profits less losses on the sale of property, plant and equipment and profits less losses on the sale and closure of businesses

All figures stated after amortisation of non-operating intangibles, profits less losses on the sale of property, plant and equipment, profits less losses on the sale and closure of businesses are shown on the face of the condensed consolidated income statement.

For further information please contact:

Associated British Foods:   
Until 15.00 only   
George Weston, Chief Executive   
John Bason, Finance Director   
Tel: 020 7638 9571

Jonathan Clare/Chris Barrie/Nicola Smith, Citigate Dewe Rogerson
Tel: 020 7638 9571   

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

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