Retailer revenue jumps by 17%

Dublin-headquartered discount clothing retailer Primark contributed almost half of parent group Associated British Foods’ total annual sales in the 12 months to mid-September.

The diversified UK conglomerate — whose interests span ingredients, retail, grocery, and agriculture — yesterday reported group revenue of £12.9bn (€16.5bn) for the 52 weeks to September 13. In constant currency terms, that figure was up by 1% on the previous year, while a 2% rise in both adjusted operating profit (£1.16bn) and adjusted pre-tax profit (£1.1bn) was also noted.

Underlying pre-tax profit was up by 18% to £1.02bn, while basic earnings per share were ahead by 30% on the prior year at 96.5p.