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Chairman's Address to AGM

At the Annual General Meeting today (4 December 2015) 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 2015.

“The good underlying trading achieved by our businesses last year has continued into the new financial year which has started well.  Investment in expansion opportunities will continue across the group, and we expect greater stability in sugar profit ahead of EU quota removal in 2017.  There has been little movement in exchange rates since the year end and our view on the likely net impact on the translation of our overseas results and also on the transactional exposures at Primark and European sugar is unchanged.  We therefore continue to expect currency pressures to lead to a modest decline in adjusted operating profit and adjusted earnings for the group for the full year”.

For further information please contact:

Associated British Foods:
John Bason, Finance Director
Flic Howard-Allen, Head of External Affairs
Tel: 020 7638 9571

Citigate Dewe Rogerson:
Chris Barrie, Eleni Menikou
Tel: 020 7638 9571

Jonathan Clare
Tel: 07770 321881

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