ABF reveals strong performance
group, announced strong interim results on Wednesday.
ABF reported a 12 per cent...
Associated British Foods, the UK food, ingredients and retail group, announced strong interim results on Wednesday. ABF reported a 12 per cent increase in profit, before tax, to £191 million. Sales from ongoing businesses were up 4 per cent to £2,025 million and operating profit increased by 3 per cent to £159 million, before profit on disposal of businesses and amortisation of goodwill. Investment income increased from £23million to £33million. In a statement Peter Jackson, Chief Executive of Associated British Foods, said: "We are making good progress in growing our businesses in line with the strategy laid out at our last results announcement. We are benefiting from both the diversity and the financial strength of the group. Ourrestructuring is well under way and our costs remain under tight control. " Adjusted earnings per share were up 14 per cent to 17.1p. Shares for ABF were at 435.75GBp on Thursday morning.