Associated British Foods, the owner of Primark, has reported that Primark’s full year revenue was up 5% from the previous year, although like-for-like sales were down 2.1%.
Sales reached a total of £7.4 billion and adjusted profit grew by 13% to £843 million in the year to 15th September.
Primark’s UK performance in the period was strong with total sales up by 5.3% and like-for-like sales up by 1.2%, according to ABF.
Michael McLintock, ABF chairman, said: “Primark has the potential for growth in all of its existing markets, and the opening of Birmingham Pavilions next year, at 160,000 square feet, will make it our largest store. In the medium term our plans to add further stores in the US, and to enter a number of markets in central and eastern Europe, should support our current rate of selling space expansion.”
