Back
News

Weston family reaps £37m dividend after property sales

Primark owners the Weston family received a £37m dividend after selling off properties last year.

Wittington Investments, the family’s investment vehicle, handed out £128m in dividends last year, beating the previous payout of £104m.

Wittington posted a 22% increase in profit before tax to £1.4bn in the year to 16 September. Group revenue rose from £17.3bn to £20bn.

As well as profit from Associated British Foods, which controls Primark and Silver Spoon, property sales added to the haul.

Last year, the Westons sold the five-star Grand Hotel in Brighton to the Fattal Group, the Israeli owner of Leonardo Hotels, for £61m, according to Wittington’s latest accounts.

The Times (£)

Up next…