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Primark proves its value as sales rise

Value chain Primark has outperformed most of the rest of the retail sector, with like-for-like sales expected to be up 5% for the six months to February 28.

Primark’s owner, Associated British Foods, said in a pre-close statement that sales in the first half of the year were substantially ahead on the year before thanks to increased selling space and strong like-for-like sales.

However, it added that the cost of Primark’s new distribution centre in Thrapston, Northamptonshire, had increased fixed overheads which would be reflected in a lower operating profit margin for the period.

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