Profits soar for Primark owner
By Sarah Wood | 23rd April 2024
Half-year earnings are up by more than a third for the owner of Primark.
Associated British Foods (ABF), which also owns brands including British Sugar and Dorset Cereals, reported pre-tax profit of £881 million in the six months to March - a rise of 37% on the same period last year, as reported by The Independent.
It said investment in stores and supply chain in previous years was starting to pay off.
Sales at Primark, which has stores in Gloucester and Cheltenham, were boosted by new stores and some price rises.
Primark has no plans to raise prices further in the future, as it aims to continue to be the "best value retailer on the high street".
The retailer is planning to launch its click and collect service across the UK by the end of 2025, after trialling it in a number of stores.
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