Primark owner lifts full-year outlook after 16% jump in sales

The owner of Primark has lifted its outlook for the full year as it reported a jump in sales driven by higher prices.

By Anna Wise, PA Business Reporter

Published 26th Jun 2023, 11:45 BST

Associated British Foods, which also has major sugar, ingredients and other food businesses, said its sales surged by 16 per cent over the three months to the end of May to £4.7 billion.

Sales in Primark grew by 13 per cent across its global stores, and by 6 per cent in the UK, compared to the same period last year. The uplift was helped by higher average selling prices for its products, the company said.

The retail giant now expects its adjusted operating profit for the full year to be slightly ahead of last year.