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2011 Interim Results Announcement

Heading

27 April 2011

 

ABF delivers adjusted earnings growth of 8%

Highlights

Group revenue up 9% to £5,207m

Adjusted operating profit up 5% at £390m*

Adjusted profit before tax up 7% to £353m **

Adjusted earnings per share up 8% at 32.9p **

Dividend per share up 4% to 7.9p

Net debt £1,361m after net capital investment of £399m

Operating profit up 6% to £356m, profit before tax level at £319m and basic earnings per share down 3% to 30.6p


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

“The breadth, diversity and resilience of our businesses have enabled the group to deliver good growth.  We have made further substantial capital investment for the longer-term development of the group.”

* before amortisation of non-operating intangibles and profits less losses on the disposal of non-current assets
**before amortisation of non-operating intangibles, profits less losses on the disposal of non-current assets 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 disposal of non-current assets and 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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