Overview
- ABF said no decision has been made and the review could lead to separating Primark from the food businesses.
- Adjusted pre-tax profit fell 13% to £1.7 billion for the year to 13 September, and group revenue declined 3% to £19.4 billion.
- Primark sales rose 1% to £9.5 billion, with like-for-like declines in the UK and Ireland offset by growth in the United States and mainland Europe.
- The sugar division recorded a £205 million loss following the closure of the Vivergo bioethanol plant, while grocery and ingredients sales were broadly flat.
- The company expects a subdued retail environment for Primark and plans to lean on sharp pricing and continued store roll-outs to drive growth.