Dow Jones Newswires: Primark owner AB Foods posts profit drop [MarketWatch]
ASSOCIATED BRI/F UNSP/ADR (ASBFY)
NASDAQ:AMEX Investor Relations:
abf.co.uk/investorrelations
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Source: MarketWatch
Primark owner AB Foods posts profit drop Associated British Foods PLC said Tuesday that pretax profit fell 8.3% in fiscal 2019, despite strong performance at Primark and its grocery business. For the year ending Sept. 14, the U.K. retailer ABF, +3.78% said pretax profit was 1.17 billion pounds ($1.51 billion)O, compared with GBP1.28 billion in fiscal 2018. Adjusted operating profit — the company’s preferred metric which excludes exceptional costs — was GBP1.42 billion, up 1% from the prior year, the company said. Revenue for the year rose 1.6% to GBP15.82 billion, it said. The board declared a final dividend of 34.3 pence a share, which together with the interim dividend brought the full year payout to 46.35 pence, an increase of 3%, the company said. Adjusted operating profit at its sugar segment fell 79% at actual foreign exchange rates to GBP26 million, while its grocery segment rose to GBP380 million from GBP335 million on the same metric this time last year. Meanwhile, retail
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