2017 interim results announcement

Associated British Foods plc announces its interim results for the 24 weeks ended 4 March 2017

Excellent progress on all fronts

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

“The underlying growth of the group at constant currency was strong in the first half. Primark delivered a substantial increase in selling space which, together with its strong consumer offering, contributed to a further increase in our share of the total clothing market. Furthermore, we achieved a more acceptable rate of return in Sugar and further good progress was made by our Ingredients and Grocery businesses.”

Adjusted operating profit is stated before the amortisation of non-operating intangibles, profits less losses on disposal of non-current assets and transaction costs. These items, together with profits less losses on the sale and closure of businesses, are excluded from adjusted profit before tax and adjusted earnings per share. Constant currency is derived by translating the 2016 results at 2017 average exchange rates.

References to operating profit in the Operating Review are based on the adjusted measure defined above.

For further information please contact:

Associated British Foods:
Until 15.00 only
John Bason, Finance Director
Flic Howard-Allen, Head of External Affairs
Tel: 020 7638 9571

Chris Barrie/Eleni Menikou, Citigate Dewe Rogerson
Tel: 020 7638 9571

After 15.00
John Bason, Finance Director
Flic Howard-Allen, Head of External Affairs
Tel: 020 7399 6500

Interim Results 2017 Announcement