ABF, whose brands include Twinings tea, Ryvita and Silver Spoon, said pre-tax profit before exceptionals and goodwill for the year to September 14 was £430m up from £393m last year.
Group sales grew 3% to £4.5bn boosted by a strong performance from its grocery businesses.
The company said its bakery unit Allied continued to grow branded volume in the multiple retail sector while Twinings tea maintained its “strong performance” in worldwide sales, market share and profit growth.
Despite a smaller UK beet crop British Sugar was said to have achieved a “satisfactory” increase in profit.
Chairman Harold Bailey said the results reflected strong growth across its business areas, with the exception of its Australian unit, George Weston Foods and its cakes, biscuits, meat and dairy businesses.
The group also announced that Bailey will retire at the group’s agm on December 5 and current non-executive director Martin Adamson will become non-executive chairman.