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2012 interim results announcement

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24 April 2012

 

ABF delivers adjusted earnings growth of 5%

Highlights

Group revenue up 11% to £5,766m
Adjusted operating profit up 6% at £412m*
Adjusted profit before tax up 3% to £363m **
Adjusted earnings per share up 5% at 34.4p **
Dividend per share up 8% to 8.5p
Net debt £1,592m after net capital investment of £326m
Operating profit up 6% to £378m, profit before tax up 3% at £329m and basic earnings per share up 4% to 31.7p

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

“The group delivered good growth in revenue and profit.  AB Sugar and Primark both performed strongly, demonstrating continuing momentum.  We expect substantial growth in both adjusted operating profit and adjusted earnings per share for the group for the full year.”

* 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

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

Jonathan Clare
Tel: 077 7032 1881

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

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