Like-for-likes up 3 per cent for year
Value clothing retailer Primark unveiled a rise of 3 per cent in like-for-like sales for the year ending September 16, despite a fire destroying its UK warehouse last November.
During the course of the year, Associated British Foods-owned Primark managed a large expansion programme, spending£221 million on the acquisition and fit-out of new retail spaces, which is now approaching completion.
According to Associated British Foods chairman Martin Adamson, the extra floor space will fuel sales and profit growth as trading develops at the new stores over time.
Associated British Foods chief executive George Weston said: 'We have taken major steps in the development of our businesses this year. In particular, British Sugar and Primark have emerged stronger and better positioned.'
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