Strong demand for Primark’s low-cost branded fashions during the first half of its financial year has helped to cushion the blow of falling profits from sugar at its parent company Associated British Foods.
The FTSE 100 group told investors yesterday that Primark’s adjusted operating profits had risen by 25% to £426m during the six months to March 2, driven by a dramatic improvement in its margins and a 4.4% increase in total sales.
Primark’s revenues increased by 4% to just over £3.6bn.
