- Prachi Singh |
Primark’s first-half adjusted operating profit increased 11 percent to 322 million pounds (479 million dollars), excluding the impact of currency fluctuations. The segment reported a 15 percent rise in sales during the period under review.
Commenting on the interim update, George Weston, Chief Executive of Associated British Foods, said, “This is a sound trading result with significant progress made in operating profit by Primark. Primark’s performance was driven by significant expansion of selling space and superior trading by the stores opened in the last 12 months and plans for its entry into the north-east of the US are well advanced.”
For the period ended February 28, group revenues of 6,248 million pounds (9,286.4 million dollars) were up 1 percent on actual basis and 3 percent on constant currency basis.