Associated British Foods PLC (OTCPK:ASBFY)
$ 31.17 -0.435 (-1.38%) Market Cap: 23.32 Bil Enterprise Value: 26.60 Bil PE Ratio: 15.96 PB Ratio: 1.68 GF Score: 89/100
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Full Year 2023 Associated British Foods PLC Earnings Call Transcript

Nov 07, 2023 / 09:00AM GMT
Release Date Price: $27.57 (+7.63%)
George Garfield Weston
Associated British Foods plc - CEO & Executive Director

Great. Thank you for your patience. Thank you all for coming this morning. This review of ABF's annual results for the 52 weeks ending the 16th of September '23. Let me start by just saying that we are thrilled with where this year has ended up, roll the clock back a year, and we thought that we were going to be in a very different place indeed. We've also delivered these results in a year which has been characterized by a lot of headwinds and a significant number of shocks across our businesses. And we think we've managed our way through both really, really well. So strong performance in demanding times.

There's real momentum as we come into this year across our retail. The revenues were well ahead in the year, supported by selective pricing well-received ranges. There was a method to the pricing. We knew that the margin was going to come down. We've opened another 27 stores, so the rollout continues. And then we're all really pleased with the consequences and the developments in the digital capability in Primark

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