Primark owner profits jump despite early summer washout

Published On Nov 5, 2024, 3:42 AM

Associated British Foods, the owner of Primark, reported a significant 43% increase in pre-tax profits, amounting to £1.9 billion for the year ending September 14. Despite retaining profitability in a summer marked by poor weather impacting sales, the company noted a growth in overall sales of 6%, driven partly by strong performance in international markets such as the US, France, and Spain. The outlook remains optimistic with expectations of increased sales heading into the end of the year, particularly for autumn and winter collections.