A finance perspectiveof the year

John Bason

7 December 2012

Annual General Meeting

A year of strong growth

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Group revenue up 11% £12.3bn

Adjusted operating profit up 17% £1.08bn

Adjusted earnings per share up 18% 87.2p

Dividends per share up 15% 28.5p

Substantial cash flow

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£m£m

Adjusted operating profit before depreciation and amortisation1,466

Used by businesses Net capital investment Working capital

(707)43

(664)

Tax(191)

Net interest(98)

Other(68)

Free cash flow445

Group financial strength

Conservative level of debt – reduced to £1.06bn

Well-funded pension arrangements – modest deficit

Diversified sources of funding

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Business highlights

Profit– growth driven by Sugar, Primark and Twinings Ovaltine– another good year for Agriculture– restructuring in Australia and Ingredients

Improvement in group profit margin and return on capital

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