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Earnings growth of 8% and further substantial investment at ABF
Highlights
- Group revenue up 15% to £3,706m
- Adjusted operating profit up 9% to £296m*
- Adjusted profit before tax up 5% to £282m **
- Adjusted earnings per share up 8% to 25.2p **
- Interim dividend per share up 4% to 6.75p
- Net investment in capital and acquisitions of £363m
- Net debt of £848m
- Operating profit up 17% to £281m, profit before tax up 35% to £267m and basic earnings per share up 33% to 25.6p
George Weston, Chief Executive of Associated British Foods, said:
"These good results demonstrate that the group remains on track with strong growth from Grocery, Ingredients and Agriculture and another excellent performance from Primark. The development of our businesses continued apace, most notably with further substantial investment in Sugar and expansion at Primark.."
* before amortisation of non-operating intangibles, profits less losses on the sale of PP&E and exceptional items
**before amortisation of non-operating intangibles, profits less losses on the sale of PP&E, profits less losses on the sale and closure of businesses and exceptional items
All figures stated after amortisation of non-operating intangibles, profits less losses on the sale of PP&E, profits less losses on the sale and closure of businesses and exceptional items are shown on the face of the consolidated income statement.
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