Primark Sees A Profit Increase By A Quarter

Primark Sees A Profit Increase By A Quarter

Primark Sees a Profit increase by a Quarter over the last Six Months. Budget clothing chain Primark has performed strongly in the past six months, the company reports Wednesday.

 

The retail chain saw its profit grow by 25 percent to 462 million pounds.

Sales at Primark increased by 4.4 percent in the last six months, and the margins for those sales also increased.

Sales in the eurozone grew by 5.3 percent, according to Primark, the growth came mainly from Spain, France, Italy and Belgium.

The number of sales in the United Kingdom grew by 2.3 percent.

A large number of new stores can partly tell the increase in the number of sales.

The company opened stores in, for example, the US. Shops were also added, including in Berlin and Seville.

The budget clothing chain assumes to add more than 88,000 square meters of retail space in the current financial year, including stores in Brussels and Bordeaux.

Primark is part of the British food and retail group Associated British Foods (ABF).

The retail chain provided the majority of the profits of the multinational; in total ABF’s profit was 639 million pounds over the broken financial year.

Primark, therefore, accounted for more than 72 percent of the company’s profit.

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