Financial highlights

  • Acquisition of the leading Iberian sugar producer, Azucarera Ebro
  • Sale of Polish sugar business
  • Restructuring of US packaged oils business – new joint venture, Stratas
  • Zambian cane sugar expansion completed – capacity doubled
  • Investment in Chinese beet and cane sugar
  • Enzyme capacity investment in Finland completed
  • Yeast and yeast extracts plant under construction in Harbin
  • New Primark stores in UK and Spain and first openings in the Netherlands, Germany and Portugal
  • US Private Placement secures long-term non-bank finance

Operating profit by segment

Sugar 25%
Agriculture 5%
Retail 33%
Grocery 25%
Ingredients 12%

Operating profit by geography

UK 49%
Americas 12%
Asia Pacific 9%
Europe
& Africa 30%
*
before amortisation of non-operating intangibles, profits less losses on the sale of PP&E, inventory fair value adjustment and exceptional items.
**
before amortisation of non-operating intangibles, profits less losses on the sale of PP&E, inventory fair value adjustment, profits less losses on the sale and closure of businesses and exceptional items.

Group revenue

£9.3bn Up 12%

Adjusted earnings before tax**

£655m Up 4%

Dividends per share

21.0p Up 4%

Net debt

£999m

Profit before tax

£495m Down 6%

Adjusted operating profit*

£720m Up 8%

Adjusted earnings per share**

57.7p Up 5%

Net investment in capital expenditure and acquisitions less disposals

£832m

Operating profit

£625m Up 13%

Basic earnings per share

45.5p Up 1%