Associated British Foods increases its 2015 interim dividend by 3%

DividendMax Ltd.

Associated British Foods increases its 2015 interim dividend by 3%

Highlights

   

Actual

Constant currency1

Group revenue

£6,248m

+1%

+3%

Adjusted operating profit

£474m*

-5%

-2%

Adjusted profit before tax down 4% to £450m

Adjusted earnings per share up 1% to 46.1p

Dividends per share up 3% to 10.0p

Net debt £801m after net capital investment of £277m

After profits less losses on sale and closure of businesses and exceptional items, operating profit down 24% to £353m, profit before tax down 51% to £213m and basic earnings per share 58% to 18.1p

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

"This is a sound trading result with significant progress made in operating profit by Primark, Agriculture and Ingredients, and further improvement in Grocery's margin. As expected, profitability at AB Sugar was substantially lower as a result of much weaker EU sugar prices. Primark's performance was driven by significant expansion of selling space and superior trading by the stores opened in the last 12 months and plans for its entry into the north-east of the US are well advanced."

Companies mentioned