Friday June 5, 2020

Primark owner boosted by weaker pound

Financial outlook for the year has improved

10th July, 2016
Primark, which is owned by Associated British Foods

Associated British Foods, the British sugar and ingredient company that also owns Primark, has improved its outlook for the remainder of the financial year on the back of sterling’s weakness.

“Following the result of the EU referendum, sterling has weakened further and at these rates, we expect a bigger translation benefit in the final quarter with no material transactional effect. As a result, our outlook for this financial year has improved and we...

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