Primark continues to grow

Primark growth

Clothing chain Primark is continuing with its trail of success as it continues to grow. In the past six months, its sales have risen eight percent - a strong boost for owner Associated British Foods (ABF).

"Trading at Primark has been strong and over Christmas was ahead of our expectations," the company said in the statement.

The like-for-like sales, which take out the impact of new stores, were boosted by "exceptionally strong performance" from the company's 14 Spanish shops.

Total sales were also strong after the opening of five new stores in the UK, Germany, Portugal and Belgium, the BBC report.

Full interim results from ABF up until 27 February, will be announced on 20 April.

Growth

The company now has 196 Primark stores across the UK and Europe - the equivalent of 6.1 million square feet of selling space, according to the Press Association.

ABF also owns grocery brands such as Twinings, Ryvita and Kingsmill, and also has a significant sugar business under the Silver Spoon name. It said profits from sugar will be "substantially ahead" of last year, driven by "excellent performance" in Europe and a "welcome recovery in China".

There were also signs that the ethnic wholesale sector was stabilising and its Westmill Foods business - which supplies flour, rice, spices, sauces, edible oils and noodles - saw profits improve in the period although these have not recovered to the levels seen two years ago.

Primark is set for further UK expansion in the coming months, with stores planned for Chester, Bury and Blackburn.

Further outlets will be opened in the next financial year after the group bought 10 Bhs properties recently. These will be located in Folkestone, Guildford, Harrogate, Winchester, Bournemouth, Perth, Worcester, Ilford, King's Lynn and Scunthorpe.

Jodie Humphries

Jodie Humphries graduated from Bath Spa University with a BA Hons in Creative Writing in 2008. She has worked for GDS Publishing for the digital group since July 2009. She has previous experience with writing for the web, running her own website since April 2007.

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