The Associated British Foods PLC announced higher earnings for the year ended September 18, as Primark’s earnings increased, and announced a special dividend alongside the regular dividend.
The British group, which controls Primark stores, posted a pre-tax profit of 25 725 million ($ 983.4 million) in 2021, up from 6 686 million a year ago.
Adjusted operating profit rose 1% to 1 1.01 billion. Primark operating profit rose 15% to 4 415 million.
Revenue was almost unchanged at 88 13.88 billion.
AB Foods said it expects Primark’s operations to continue to improve, with sales recovering to at least 2 2 billion lost due to closed stores last year, which should lead Primark’s adjusted operating margin to rise above 10%.
The company announced a final dividend of 20.5 pence per share and a special dividend of 13.8 pence, with a total annual dividend of 40.5 pence.
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Source From: Capital
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