Associated British Foods plc said its normalized net income for the fiscal fourth quarter ended Sept. 16 came to 26 Great British pence per share, an increase of 12.5% from 23 pence per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £206.9 million, an increase of 12.3% from £184.3 million in the year-earlier period.
The normalized profit margin rose to 5.1% from 5.1% in the year-earlier period.
Total revenue grew 10.7% year over year to £4.03 billion from £3.64 billion, and total operating expenses rose 10.7% from the prior-year period to £3.71 billion from £3.35 billion.
Reported net income increased 21.3% year over year to £280.8 million, or 36 pence per share, from £231.4 million, or 29 pence per share.
For the year, the company's normalized net income totaled 99 pence per share, compared with the S&P Capital IQ consensus normalized EPS estimate of £1.26.
EPS rose from 82 pence in the prior year.
Normalized net income was £785.1 million, an increase from £650.1 million in the prior year.
Full-year total revenue increased on an annual basis to £15.36 billion from £13.40 billion, and total operating expenses increased year over year to £14.10 billion from £12.36 billion.
The company said reported net income grew on an annual basis to £1.20 billion, or £1.52 per share, in the full year, from £817.9 million, or £1.03 per share.
