Primark profits up by 10%

A FIRST-class performance by Primark, which trades as Penneys in Ireland, sent operating profits in the six months to the end of February jumping 10% to £122 million (e138m).

After a better than expected Christmas, revenues increased 18% to £1.06 billion.

“Against a background of continued tough trading for UK clothing retailers, this was a first class performance which serves tounderpin delivery of our forecast for the full year,” the company said.