Primark achieved a 6 per cent rise in its sales for FY24, reaching £9.4 billion with a 51 per cent increase in adjusted operating profit to £1.1 billion. During the year it opened 22 new stores and closed three.
Commenting on the results, George Weston, CEO of Primark parent Associated British Foods said: “This was a year of very strong financial and operational progress across the group. Primark achieved good sales growth this year and I am particularly pleased with the significant recovery in margin. Significant white space for new stores remains across Europe and the US which we expect to help drive sustainable growth over the medium and long term.”
The business is targeting mid-single-digit sales growth as it continues to roll out store openings in Europe and the US. It currently operates over 450 stores in 17 markets.
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