SHARE PRICE: 3066.15 -30.85 close, 23 Nov 2017 15 MINS DELAY

2017 Annual Results Announcement

Heading

7 November 2017

Strong growth for the group

Financial Headlines

Actual
Constant
currency

Group revenue £15.4bn

+15%

+6%

Adjusted operating profit £1,363m

+22%

+13%

Adjusted profit before tax up 22% to £1,310m

Adjusted earnings per share up 20% to 127.1p

Dividends per share up 12% to 41.0p



Gross investment of £945m



Net cash £673m



Statutory operating profit up 21% to £1,336m, and with the benefit of a profit on the sale of businesses, profit before tax up 51% to £1,576m and basic earnings per share up 47% to 151.6p

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

“This was a highly successful year for the group. These results reflect our international diversity, and the strong underlying performance of our businesses was driven by management actions throughout the year. Capital investment was a record as we continued to pursue the opportunities to grow our businesses into the future.”

Adjusted operating profit is stated before the amortisation of non-operating intangibles, transaction costs and profits less losses on disposal of non-current assets.
These items, together with profits less losses on the sale and closure of businesses, are excluded from adjusted profit before tax and adjusted earnings per share.
All adjustments to profit measures are shown on the face of the consolidated income statement. Constant currency is derived by translating the 2016 results at 2017 average exchange rates.

For further information please contact:
Until 15.00 only
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   

After 15.00

John Bason, Finance Director
Flic Howard-Allen, Head of External Affairs
Tel: 020 7399 6500

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