FDBusiness.com

Another Record Year For ABF

 Breaking News
  • Ryvita’s New Re-Launch Following a hugely successful year in 2017, healthy snacking favourite Ryvita is kicking off 2018 with not only a brand new campaign but also an exciting re-freshed look in addition a host of new and innovative products. On a mission to help women enjoy positive healthy living every day, Ryvita has teamed up with CRUK and one of the [...]...
  • Campari Group Launches New Super Premium Gin Campari Group has launched its new super-premium Italian gin, O’ndina, in the UK. The UK is the first market to roll out the product, which will later launch globally. With the launch of O’ndina, Campari Group enters the fast-growing Super Premium Gin category, with this Small Batch Italian Gin, crafted in Italy using fresh basil [...]...
  • KITKAT Ruby Arrives in the UK Nestlé UK is introducing a Ruby chocolate version of its iconic four finger KITKAT. Consumers in the UK will be the first in Europe to try a four finger KITKAT made with Ruby chocolate, a fourth chocolate after dark, milk and white. This unique KITKAT offers a new taste experience. The crispy four-finger wafer bar is [...]...
  • A Wee Dram Goes Further Than You Think Thanks to Goplasticpallets.com It’s one of the world’s favourite food exports and it’s important to keep the whisky flowing at all times. As the US writer, Mark Twain said: “Too much of anything is bad, but too much good whisky is barely enough.” That’s why The Edrington Group, the international premium spirits company, approached Goplasticpallets.com when it needed [...]...
  • Vion Names New CEO Vion, the international meat group, has appointed Ronald Lotgerink as its new CEO with effect from 1 September. Ronald Lotgerink is currently the CEO of Zwanenberg Food Group, a leading European producer and exporter of meat products, canned meat, snacks, soups and sauces. Ronald Lotgerink started his career at KPMG. In 1989 he joined Zwanenberg Food [...]...

Another Record Year For ABF

Another Record Year For ABF
November 06
08:48 2013

Associated British Foods, the UK-based diversified international food, ingredients and retail group, has reported a 25% increase in operating profit to £1.093 billion and a 15% rise in profit before tax to £876 million on group revenue up 9% to £13.3 billion for the 52 weeks ended 14 September 2013.

This operating performance resulted in a strong cash flow and a healthy reduction in the group’s net debt. ABF’s Grocery margins improved with a recovery in both the baking and meat businesses of George Weston Foods in Australia. The results in UK Grocery showed good progress from Jordans, Ryvita, Westmill and AB World Foods, offset by margin pressure in the bakeries and Silver Spoon.

The momentum of recent years in AB Agri continued and underlying trading in Ingredients achieved some stabilisation. AB Sugar performed well, delivering a result which, although below last year’s high level, was in line with our expectations.

The decline in AB Sugar’s profit in 2013 was the result of lower European production and higher beet costs for British Sugar. In June this year, the European Council of Ministers confirmed that EU sugar quotas for domestic production would end in 2017 and the market has already started to react. Pricing for the 2014 financial year is lower as a consequence of the greater availability of sugar globally and an increase in competition.

ABF’s capital expenditure was lower again this year. Investment included the completion of the new yeast plant in Mexico and the South African warehouse and Tanzanian distillery for Illovo, and further expenditure on ABF’s programme to reduce the cost base at Allied Bakeries with new bread plants at three of its UK bakeries.

ABF’s retail business, Primark, had an outstanding year, increasing profit by 44% and adding a further 800,000 sq ft, or 10%, to its already substantial estate.

George Weston, chief executive of Associated British Foods, says: “I am delighted to report that the group has again delivered a great set of results. Grocery was much improved, Agriculture achieved record profits, Sugar was in line with our expectations and it was a remarkable year for Primark.”

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • April 22, 2018Natural & Organic Products 
  • April 24, 2018Scandinavian Wine Expo
  • April 24, 2018Seafood Processing Global
  • April 24, 2018InterFood Krasnodar
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements