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Chairman’s Address to AGM


4 December 2009

At the Annual General Meeting today (4 December 2009) Mr Charles Sinclair, Chairman of Associated British Foods, in addressing shareholders made the following comments on current trading for the group since the close of the financial year ended  12 September 2009:

“Trading results for the first two months of the new financial year were encouraging and ahead of our expectations, but there remains uncertainty over the pace of economic recovery and we see 2010 may be difficult for the UK consumer.  We expect good revenue and operating profit growth over the next year with the benefit of returns from our recent long-term investments and restructuring together with improvement in our Chinese and US businesses.  Net financing costs will be higher but we are confident of progress in earnings for the full year.”

For further enquiries please contact:   

Associated British Foods   
John Bason, Finance Director                                        Tel: 020 7399 6500

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