Primark posts rise in pre-tax profits for Irish Penneys operations

The newly filed accounts showed revenues at the Irish retail arm increased by €51.5m, or 7%, to reach to almost €745m during the most recent financial year

The directors said that they intend to spend over €250m on the Irish market in the coming years. Picture: Marc O'Sullivan

The firm which operates the Penneys chain of outlets in the Republic of Ireland posted a jump in pre-tax profits despite a cost-of-living crisis weighing on consumers last year.

Newly filed Primark accounts showed that the company recorded a 5% increase in pre-tax profits to approximately €417m in its most recent financial year ending in September 2023.