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17 November 2002

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British Sugar parent reports results


British Sugar parent company, Associated British Foods, reports robust preliminary results.

Preliminary results for year ended 15 September 2001

Highlights:

  • Worldwide sales ahead at 4,434 million

  • Operating profit up 3% to 351 million

  • Investment income up 8% to 66 million

  • Profit before tax up 5% to 393 million

  • Adjusted earnings per share up 7% to 35.4p

  • Dividends per share up 5% to 11.8p

  • Net cash funds up 70 million to 1,051 million

Peter Jackson, Chief Executive of Associated British Foods, said: "These are robust results against a backdrop of difficult market conditions. By implementing the strategies we laid down 12 months ago, we have achieved double digit operating profit growth across four of our five business categories. We remain committed to the generation of strong cash flow and sustainable growth and will continue to develop our group businesses to achieve these goals."

November 2001

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