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Primark profits 'well ahead'

Primark is expected to achieve like-for-like sales growth of 2% for the second half which ends on September 13.

In a pre-close statement this morning ahead of its full year results, Primark said it had increased its selling space by 8% to 5.4 million sq ft or 181 stores over the period and that sales and profits at the value chain would be “well ahead” of last year. Operating profit margin will be broadly in line with last year.

Primark said its positive like-for-like growth performance was despite a weak April when it was hit by poor weather against a period of hot weather the previous year and a shift in the Easter holiday dateline.

Primark said its Spanish stores had performed well.

Primark’s parent company Associated British Foods will announce its full year results for the period ended September 13, on November 4.

To view more pictures of Primark’s autumn collection click here.

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