Primark Annual Operating Profit Increased By 44%

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Primark, the British fashion designer and retailer (/a) group AssociatedBritishFoodsPLC (LON:ABS), achieved a total revenue of 4 billion 273 million pounds in the fiscal year ended September 14, 2013, 22% higher than the 3 billion 503 million pounds in the 2012 fiscal year, and 5% increase in the same store sales. The Primark met the market expectation, and the operating profit reached 514 million pounds, up 44% from the same period in September 14, 2013. The total revenue of P was 3 billion 503 million.

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< p > the group will open the first store in France before Christmas for Primark, which has 257 stores, and plan to expand in the developed countries in the future, and will open 20 new branches in 2014. But AssociatedBritishFoodsPLC (LON:ABS) chief executive officer GeorgeWeston insists on staying away from e-commerce. "Our market still has many development opportunities." for example, there are only ten stores in Germany compared to 161 stores in the UK, he explained.

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< p > Primark has landed in the UK since June this year, a href= "http://www.91se91.com/news/index_c.asp" > Fashion electric business /a /a ASOSPLC.

A week after entering the ASOSPLC (ASC.L) platform, ASOS said Primark sales were hot, and CEO NickRobertson said: "obviously, our customer groups have a very strong demand for Primark products."

Primark decided to double the supply of products.

However, it is reported that the high cost of return and delivery and ASOSPLC (ASC.L) make the priced Primark already unprofitable, and the competition from other brands of ASOSPLC (ASC.L) platform is very intense. So AssociatedBritishFoodsPLC (ABF.L) decided to end the test of water e-commerce in September.

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< p > although the income of < a href= "http://www.91se91.com/news/index_c.asp" > Primark < /a "has accounted for nearly 1/3 of the group's total revenue, GeorgeWeston said it would not split the Primark. He predicted that the growth of the brand would continue for a long time.

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< p > AssociatedBritishFoodsPLC (LON:ABS) 2013 year-on-year revenue increased 9% to 13 billion 300 million pounds, higher than the market expected 13 billion 240 million pounds, adjusted pre tax profit of 1 billion 96 million pounds, adjusted earnings per share reached 98.9 pence, 13% higher than the 2012 fiscal year, the market is expected to 97.79 pence.

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< p > grocery business income increased 3% to 3 billion 840 million pounds compared with the previous year, and adjusted operating profit increased 24% to 232 million pounds.

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< p > group forecasts that the profit adjusted earnings per share in fiscal year 2014 will be similar to that in fiscal year 2013, due to the decline in the profits of its sugar industry and offset the increase in Primark and grocery business profits.

Cautious expectations made AssociatedBritishFoodsPLC (LON:ABS) share price fall 2.5% in November 5th, closing at 2198.66 pence, and the largest drop in the intraday price of 3.6%.

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