The Associated British Foods announced a significant increase in adjusted operating profit for the first half of 2022, higher than expected before the pandemic, and added that Primark will raise prices to address the effects of inflation.
The British group announced adjusted operating profit for the 24 weeks to March 5, amounting to 706 million pounds ($ 899.5 million), compared to 368 million pounds a year ago.
Primark’s adjusted operating profit rose to 14 414 million from 43 43 million a year earlier.
Revenue rose to 7 7.88 million from 31 6.31 million a year ago.
Primark sales rose 59% to 3 3.54 billion.
Source: Capital
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