Clothing chain delivers more hope for high street
By Andrew Merrell | 17th April 2018
Primark has delivered a rise in both sales and profits to lift the spirits of those working hard to make the UK high street work.
The fashionable favourite for those who like to be both stylish and watch their pennies posted both a rise in half year profits and a rise in sales.
Operating profit up 4 per cent to £341m in the six-month period to March 3 and sales grew seven per cent, according to its figures.
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The City liked what it saw with shares in Primark's parent company, Associated British Foods (ABF), rising four per cent.
Figures may have been even better if - like many of fashion retailer appears to have been - it was not hit by unseasonably warm October weather and the cold snap in February which affected its winter and spring wear sales.
There was also a squeeze on profit margins as the weak pound against the US dollar forced up the cost of imports.
Primark has stores in Gloucester and Cheltenham.
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