Value chain bounces back after warehouse fire
Primark, the value fashion chain owned by Associated British Foods (ABF), revealed at its AGM this morning that it continues to trade well, despite last month's warehouse fire.

The retailer was forced to hire a cargo plane to fly in much-needed stock after its Leicestershire warehouse - owned by a third party - was destroyed in the blaze.

ABF chairman Martin Adamson announced that Primark has continued to trade on form, despite the damage. 'The premises and our stock were a complete write-off. We took immediate action to deal with this crisis. Sourcing of alternative goods for those destroyed has proceeded as quickly as practicable, helped by the use of a large cargo plane to speed goods from Asia. Primark has continued to trade well,' he said.

The overall performance of all companies under the ABF umbrella, which includes Ovaltine and Twinings, has been 'a little ahead of the previous year,' according to Adamson.

He added: 'Competition in all our markets is strong and the trend in energy prices is a particular concern. We expect to deliver further progress as the year develops.'