Primark profit increases by 25 percent

For the 24 weeks to March 2, 2019, Primark, part of the diversified group Associated British Foods, reported 4.4 percent rise in sales, ahead of last year, which the company said was driven by increased retail selling space partially offset by a 1.5 percent decline in like-for-like sales. With a much higher margin, Primark added that profit was 25 percent ahead of last year. The company further said that early customer reaction to the new spring/summer range has been encouraging.