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Associated British Foods still recovering from lockdown slump

Store closures and the lack of an online purchase function led to £2bn in lost sales, with revenue and profit lagging behind pre-pandemic performance
Associated British Foods still recovering from lockdown slump
  • Third of Primark trading days lost to store closures 
  • Surprise special dividend announced

Associated British Foods (ABF) resumed dividend payouts this year after 2020’s blank. The food processing and retail group announced an unexpected special dividend of 13.8p a share along with a final dividend, following July’s half-year payment. This was despite revenue-driving subsidiary Primark losing a third of its trading days due to store closures and the group posting flat revenue in its 2021 full-year results. Management said that strong financial leverage and improved cash retention drove the distribution decision.  

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