LONDON (dpa-AFX) - Associated British Foods PLC (ASBFY.PK, ABF.L) reported that its profit before taxation for the 24 weeks ended 1 March 2025 declined to 692 million pounds from 881 million pounds last year.
Profit attributable to equity shareholders for the period was 520 million pounds or 71.0 pence per share down from 663 million pounds or 87.4 pence per share in the previous year.
Adjusted earnings per share decreased to 83.6 pence per share from 90.4 pence per share last year. This was driven by the decrease in adjusted earnings, partially offset by the increase in other financial income.
Revenue for the period also declined to 9.509 billion pounds from 9.734 billion pounds in the prior year. Revenue was in line with the prior year at constant currency, with growth in Retail and Ingredients revenue offset by a decline in Sugar and Agriculture revenue.
As previously announced, the company expects to complete 591 million pounds of share buybacks in this financial year. In the first-half of 2025, the company completed 359 million pounds of buybacks with a remaining amount of 232 million pounds expected to be completed in the second-half of 2025.
The Board has declared an interim dividend of 20.7 pence per share. The dividend will be paid on 4 July 2025 to shareholders registered at the close of business on 30 May 2025.
The company said its outlook for the Group in this financial year is unchanged, with the exception of Sugar where it is providing updated guidance. The Group outlook reflects the absorption of a US tariff impact in the second-half of 2025.
The company now expects Sugar division to have an adjusted operating loss of up to 40 million pounds in this financial year.
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