Associated British Foods PLC (OTCPK:ASBFF)
$ 28.35 0 (0%) Market Cap: 21.09 Bil Enterprise Value: 23.41 Bil PE Ratio: 11.55 PB Ratio: 1.48 GF Score: 89/100
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Half Year 2022 Associated British Foods PLC Earnings Call Transcript

Apr 26, 2022 / 08:00AM GMT
Release Date Price: $20 (-7.47%)
George Garfield Weston
Associated British Foods plc - CEO & Executive Director

Should we get started? I'm noisy. Look, thank you all very much for turning up in person for coming here to this review of the interim results for the 24 weeks ended the 5th of March 2022, and welcome to all of you listening online as well.

If I starts, if I may, with first half business highlights, these -- so it's really satisfying the sales and operating profits for the first half have returned to pre-COVID years. After 2 years of real struggle, we're back. In food, yes, we're affected by inflation, but the operational performance, the project management is all really resilient. Cost-reduction exercises and projects go on across the group, extensive pricing actions taken, but inevitably, there's a lag in financial recovery.

Input cost inflation is very high, logistics supply chains are still challenged. And in some parts of the world, there are still COVID-related labor absences in our business, Australasia in particular. Sugar has had the first -- has a good first half. We're not everywhere victims

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