Primark full-year profit surges as its ‘low-cost model is as strong as ever’

Primark full-year profits skyrocketed on the back of sales growth and significant margin recovery as the boss of parent company Associated British Foods George Weston declared: “Our low-cost model is as strong as ever.”
Adjusted operating profit soared 51% to £1.1bn at the fashion retailer as margin rose from 8.2% last year to 11.7%.
Sales jumped 6% to £9.4% as the value fashion giant heralded a strong performance across markets such as the US, France, Spain, Italy and Ce