Nov 05, 2019 / 09:00AM GMT
George Garfield Weston - Associated British Foods plc - CEO & Executive Director
Good morning. I forget that I actually need glasses to see stuff now. So thank you all for coming this morning to the review of the 52 weeks ended the 14th of September 2019.
The financial highlights are these then. Group revenues were up 2% to GBP 15.8 billion. Adjusted operating profit before tax, up also 2% to GBP 1.406 billion. Adjusted earnings per share, also up 2%. Dividends, we're announcing we intend to raise by 3%. We invested a lot of money back in this business, GBP 837 million of gross investment, and we end the year, though, with net cash of GBP 936 million.
The business highlights then are these. Really good growth in Grocery and Primark more than offset the Sugar decline that we forecast a year ago. Within Grocery, Twinings Ovaltine showed strong underlying growth, but we also got good profit growth from margin improvement in Australia, in ACH and in Acetum. AB Sugar, this was the year of low contracted European prices. Those prices have been rising recently. And the efficiency
Full Year 2019 Associated British Foods PLC Earnings Call Transcript
Nov 05, 2019
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