AB Foods, the parent company of Primark, provides higher turnover for the retail chain in the first half of the financial year. AB Foods reported this in a trade report. Results are reported on 24 April.
The turnover at Primark is expected to be 4 percent higher than a year earlier. The growth comes through new store openings. On a comparable basis, a revenue decline of 2 percent is predicted. According to AB Foods, things are going well in Britain, just like in Spain, France, Italy and Belgium. There is weakness in Germany. No mention was made of the Dutch activities.
AB Foods expanded its store base to 364 branches. Stores were added in Spain, France and Germany.
For the entire company, revenue growth is expected for the first half of the year, with the exception of the sugar division. The adjusted earnings per share will be approximately in line with a year earlier.
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