PRIMARK sales have risen 15 per cent after the discount retailer benefited from continued UK growth and a major European expansion drive.
The retailer, which is owned by Associated British Foods and includes a store in Bradford’s Kirkgate Centre, achieved the year-on-year improvement in the 16 weeks to January 3 despite the impact of unusually warm autumn weather. AB Foods expects Primark’s growth to continue over the rest of the financial year to September, although this will not be enough to offset the impact of lower prices on its sugar-production business AB Sugar.
The FTSE 100-listed conglomerate, which employs 118,000 people in 47 countries, also has operations in agriculture, grocery and ingredients. Brands include Ryvita, Ovaltine, Silver Spoon, Kingsmill and Patak’s. Primark had recently toasted a ‘’magnificent’’ year with annual sales of nearly £5 billion and a 29 per cent rise in profits.
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