Primark launches click and collect amid soaring profits
ABF stated that the growth was driven by newly-opened stores and last year's price increases on certain items
Primark has revealed that it is launching a new click and collect service to all of its British stores by the end of 2025.
It comes as its parent company Associated British Foods (ABF) saw its pre-tax profit jump 37% to £881m for the 24 weeks ended 2 March 2024.
Alongside this, Primark saw its adjusted operating profit increase by 46% up to £508m for the half year.
The retailers sales rose 7.5% to £4.5bn in the period and its like-for-like sales rose 2.1%.
Its UK sales grew 4.3% compared with the same period last year, driven by like-for-like sales growth of 3.6%.
ABF stated that the growth was driven by newly-opened stores and last year’s price increases on certain items.
George Weston, ABF chief executive, said: “This is a very strong set of financial results, as we are now benefitting from the restoration of some normality in our markets and in our supply chains. Improvements to the Group’s operational performance, driven by the investments and strong execution over the last few years, are now becoming visible. Group profit margins are recovering accordingly to more normal levels.
“Looking ahead, we continue to invest with discipline to build further sustainable growth. Geopolitical risks remain, of course, and the consumer has yet to fully emerge from cost of living pressures. But the Group is well positioned to deliver good returns to shareholders.”
