Companies
Primark Ireland pays out €475m dividends even as after-tax profits fall 71%
Company suffered a hit to retail sales due to pandemic but accumulated profits rose to €1.3bn
The company that owns Penneys in Ireland has paid out a dividend of €475 million even as its after-tax profits fell by more than 71 per cent last year.
Primark Limited, which operates more than 30 Penneys stores around Ireland, posted profit after tax of €14.8 million in 2021, down from €50.8 million the previous year.
Primark’s retained earnings at the end of the period rose despite the drop in profits, reaching €1.3 billion at ...
