Business
Interim Results
Interim Results.
About this update from Associated British Foods Plc
[{"type":"text","content":"\n \nRNS Number : 5669V Associated British Foods PLC 19 April 2016 \n\n19 April 2016\n \nAssociated British Foods plc announces its \ninterim results for the 24 weeks ended 27 February 2016\n\n\nProgress in all our businesses despite currency \n \nFinancial highlights\n \n\n\n\n\n\n\n\n\n\n\nActual\n\n\nConstant currency1\n\n\n\n\n· Group revenue\n\n\n£6,117m\n\n\n-2%\n\n\n+2%\n\n\n\n\n· Adjusted operating profit*\n\n\n£486m\n\n\n+3%\n\n\n+5%\n\n\n\n\n· Adjusted profit before tax up 4% to £466m**\n\n\n\n\n· Adjusted earnings per share level at 46.1p**\n\n\n\n\n· Dividend per share up 3% to 10.3p\n\n\n\n\n· Gross capital investment of £348m\n\n\n\n\n· Net debt reduced to £421m \n\n\n\n\n· Operating profit up 35% to £477m, profit before tax up 115% to £457m and basic earnings per share up 150% to 45.2p\n\n\n\n\n \nGeorge Weston, Chief Executive of Associated British Foods, said:\n \n\"These results demonstrate underlying progress for all of our businesses in the period despite currency. Good buying and selling space expansion continued at Primark, cost reduction and performance improvements contributed to a better result at Sugar, profits were well ahead at Ingredients, and profit margins improved at Grocery and Agriculture.\"\n \n* before amortisation of non-operating intangibles, profits less losses on disposal of non-current assets and exceptional items.\n \n** before amortisation of non-operating intangibles, profits less losses on disposal of non-current assets, profits less losses on sale and closure of businesses and exceptional items.\n \nAll figures stated after amortisation of non-operating intangibles, profits less losses on disposal of non-current assets, profits less losses on sale and closure of businesses, and exceptional items are shown on the face of the condensed consolidated income statement.\n\nReferences to operating profit in the Operating Review are based on the adjusted measure defined above.\n\n1 Constant currency is derived by translating the 2015 results at 2016 average exchange rates.\n \n \n\n\n\n\nFor further information please contact:\n\n...