Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Primark on course to grow in Europe

Impressive first-half trading figures from Primark will pave the way for further European expansion, City analysts believe.

The value retailer, which has 196 stores in the UK and Europe, said total sales rose 19% to £1.26bn in the 24 weeks to February 27, a like-for-like rise of 8%. Profits rose 18% to £144m. Margins were flat at 11.4%.

The retailer will open a 200,000 sq ft warehouse in Spain in the summer and a freehold warehouse in the Republic of Ireland.

Panmure Gordon analyst Graham Jones said Primark’s performance was “impressive” and its international success provided potential for “substantial” growth in Europe.

He said: “We do not believe Primark’s margins are, or will be, materially diluted by expansion in Continental Europe, and we do not expect the warehouse moves to have any material impact on Primark’s cost base.”

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.