LONDON (dpa-AFX) - Associated British Foods PLC (ASBFY.PK, ABF.L) reported Tuesday that its fiscal 2024 profit before tax climbed 43 percent to 1.92 billion pounds from last year's 1.34 billion pounds.
Basic earnings per share went up 44 percent to 193.7 pence from 134.2 pence a year ago.
Adjusted profit before tax was 1.96 billion pounds, compared to 1.47 billion pounds in the prior year. Adjusted earnings per share were 96.9 pence, compared to 141.8 pence last year.
Group revenue increased 2 percent to 20.07 billion pounds from prior year's 19.75 billion pounds. At constant exchange rates, revenues grew 4 percent, driven by both Retail and food businesses.
Further, the Board declared a special dividend of 27.0p per share, and proposed a final dividend of 42.3p per share. The total dividend equates to 90.0p per share, an increase of 50 percent from last year.
The dividends will be paid on January 10, 2025 to shareholders on the register on December 13.
The company also announced further share buyback programme of 500 million pounds, expected to be completed before the end of financial year 2025
Looking ahead, Associated British Foods said it is well positioned for the medium term, supported by strong cash generation and good momentum in Retail and food businesses.
Primark is targeting mid-single digit sales growth in 2025.
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