Remarkable year for Primark owner ABF

 Remarkable year for Primark owner ABFIncome at Primark, which is part of the Associated British Foods (ABF) , climbed 22% to £4.27bthis year till September.

New store openings and planned design lines triggered a surge in twelve-month deals at Primark, putting the retailer conflicting with Marks & Spencer where apparel bargains press on to fall.

The retailer has 257 stores in eight nations, and ABF said Primark's extension in the UK and Ireland had been concentrated on expanding offering space in major urban communities.

In London, Primark opened its second store on Oxford Street, and stores in Manchester, Newcastle and Mary Street, Dublin were expanded to entice more customers.

It also wishes to include more than a million square feet of store space in the new budgetary year, with 13 store openings in time for Christmas 2013, including five in Spain and its first store in France, which will open in Marseille.

ABF's CEO, George Weston, portrayed it as a "momentous year" for the retailer, including that future prospects looked exceptionally fruitful.

While M&S highlighted a business sector intensely dependent on reducing to drive deals, Primark said both its autumn/winter and spring/summer extends sold out in the not so distant future with not many advancements.

General: 
Companies: