Updates

Associated British Foods - Primark sales rise 15%

March 2015

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The company unveiled a positive update for the 16 weeks to 3 January, with Primark growing sales by 15% at constant currency as strong trading over the past five week period (including Christmas) made up for the unseasonal warm autumn. The group added 0.5m sq. ft. new space taking the total to 10.7m within 287 stores. There was significant expansion in the Netherlands and Germany although this affected some existing stores. Operating margin is lower than last year due to more mark-downs as previously flagged.Within its sugar division, European prices have stabilised after previous falls, while production will be slightly higher than last year. The group is also closing several loss-making Chinese sugar beat factories at a cost of & ...

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