Associated British Foods H1 Pretax Profit Declines; Revenue Up 2%

Associated British Foods PLC (ASBFY.PK, ABF.L) reported that its statutory profit before tax for the 24 weeks ended 3 March 2018 was down by 30% year-over-year to 603 million pounds. The Group noted that, in the last year, the statutory profit before tax included a profit of 255 million pounds on the sale of both the group's US herbs and spices business and south China cane sugar operations. Profit to equity shareholders was 481 million pounds or 60.9 pence per share compared to 636 million pounds or 80.5 pence per share. Statutory operating profit for the period was 3% down at 618 million pounds.

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