2013 Interim Results Announcement

23 Apr 2013

ABF delivers an excellent set of interim results

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

“This is an excellent set of results with adjusted operating profit up 20%, a stronger cash flow and a year-on-year reduction in net debt. We are committed to the long-term development of our businesses through investment. These results have been achieved through a focus on generating good returns from the investments we have made over recent years.”

Highlights

  • Group revenue up 10% to £6,333m
  • Adjusted operating profit up 20% at £496m *
  • Adjusted profit before tax up 25% to £452m *
  • Adjusted earnings per share up 22% at 41.9p *
  • Dividend per share up 10% to 9.35p
  • Net debt £1,337m after net capital investment of £334m
  • Operating profit up 21% to £459m, profit before tax up 26% at £415m and basic earnings per share up 23% to 38.9p

* before amortisation of non-operating intangibles and profits less losses on the disposal of non-current assets. All figures stated after amortisation of non-operating intangibles, profits less losses on the disposal of non-current assets, profits less losses on the sale and closure of businesses and exceptional items are shown on the face of the condensed consolidated income statement.

For further information please contact:

John Bason, Finance Director Tel: 020 7399 6500