Primark has again boosted profits at Associated British Foods with the conglomerate guiding its adjusted profit to be well ahead of last year.
ABF put the growth down to a stronger profit delivery from its bargain clothes chain, which has seen its operating profit soar by more than 300% in the past decade, while many of its high-street peers are struggling.
ABF said that Primark had performed particularly well in the UK, with full-price sales rising by 10% on last year. Its share of the total clothing market increased significantly, it added.
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