Shares in Associated British Foods were down on the FTSE 100 in morning trading, despite the group reporting a "record year", with both revenue and pre-tax profit rising by double digit figures.
The group, which owns brands such as Kingsmill and Twinnings, as well as the Primark chain of stores, said that revenue in the year ended 18 September increased 10 per cent to £10.2 billion.
Adjusted pre-tax profit rose 26 per cent to £825 million and non-adjusted profits increased 54 per cent to £763 million.
ABF said it would be increasing its dividend by 13 per cent to 23.8 pence per share.
Net debt was reported as being £816 million.
George Weston, Chief Executive of Associated British Foods, said, "This year's outstanding results represent a step change for the group. A number of major projects will be completed over the coming year which will underpin future profit delivery and provide a platform for further growth. Opportunities for further attractive investment are plentiful and the group has the financial capacity to exploit them."
By 09:45 shares in Associated British Foods were down 1.12 per cent on the FTSE 100 to 1,061.00 pence per share.