Primark owner posts strong interim results
"Primark’s margin in the first half benefited from an ideal combination of lower cotton prices, better exchange rates and lower markdowns."
Associated British Foods, the company that owns Primark (trading here as Penneys), has reported strong growth in revenue and profit in the 24 weeks to the end of March.
Group revenue rose 10 per cent to stg£6.3 billion and adjusted earnings per share was up 22 per cent at 41.9 pence.
Chief executive George Weston said the results were "excellent" and said the company was committed to the long-term development of its businesses through investment.
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