Associated British Foods saw its bottom line more than halve over the half-year ended on 27 February.
However, citing its “success” in a number of new markets, ranging from Poland to Florida, the board announced that the firm would repay the monies received from the government’s job retention scheme during the present financial year.
It also declared an interim dividend.
“Looking ahead, with stores reopening and Primark once again becoming cash generative, our confidence is reflected in our decisions to repay the job retention scheme monies in respect of this financial year and to declare an interim dividend,” said ABF boss George Weston.
Group revenues at the food ingredients manufacturer fell 18% at constant currencies to reach £6.31bn.
Adjusted profits before tax meanwhile halved to £319m while earnings per share reduced by 59% to 25.1p on that same basis.
Net debt including lease liabilities stood at £2.72bn at period end.
ABF’s board declared an interim dividend payout of 6.2p.
— More to follow —
