ABF Financial Year Results

ABF's results for the year ended 13th Sept 2008 were released today.

Financial Highlights:

  • Group revenue up 21% to £8.2bn
  • Adjusted operating profit up 7% to £664m
  • Adjusted profit before tax up 3% to £632m
  • Adjusted earnings per share up 4% to 54.9p
  • Dividends per share up 4% to 20.25p
  • Net investment in capital expenditure and acquisitions of £710m
  • Net debt of £791m
  • Operating profit level at £554m, profit before tax up 4% to £527m and basic earnings per share down 3% to 45.2p

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

“These good results demonstrate the resilience of the group. Consumer spending in many parts of the world has been under pressure for some months. Despite this, Grocery, Agriculture and Primark all delivered strong sales and profit growth. While faced with a general economic downturn, we remain committed to the group’s expansion and development, most notably in Sugar and Primark.”