Sep 13, 2021
Profits to beat expectations at Primark owner Associated British Foods
Profits at Primark owner Associated British Foods are set to beat expectations in the fourth quarter of its financial year, after trading improved at its retail and food businesses. Margins advanced at Primark as the cost of operating stores fell, even as the spread of the Delta variant and the "Pingdemic" in the UK - in which people were forced to self-isolate after being texted, or alerted, by the NHS app - hit the fashion chain's sales in the three months to September 18, the company said in a trading update on Monday. Full-year operating profits at Primark, before the repayment of furlough money, are expected to be ahead of the previous year. "Operating profit margin will continue to benefit from lower store labour and operating costs," the statement said. Get alerts on Associated British Foods PLC when a new story is published.
Make a complaint about Primark by viewing their customer service contacts.