US$12.3 TRILLION out of thin air…
And if you click here we’ll show you something that could be key to unlocking 5G’s full potential.
Below I explain why that it is – and how I’d try to benefit from Primark’s performance.
Private company
The Primark share price doesn’t show up anywhere because it is not a listed company. That means its shares are not publicly traded on a stock exchange.
The company is wholly owned by
That explains why there is no such thing as a Primark share price published. But – if I wanted to benefit from Primark’s business performance, an investment in ABF could offer some exposure.
By Alec Mattinson2021-04-20T08:01:00+01:00
Top story
Associated British Foods has seen ‘record’ sales on the reopening of its stores last week to bounce back from a first half of a double-digit revenue fall and shrinking profits.
Revenue for the group for the 24 weeks to 27 February was down 17% to £6.3bn at actual exchange rates driven by the loss of Primark retail sales as a consequence of the trading restrictions.
Adjusted operating profit of £369m was 46% lower than last year at actual exchange rates as a result of the contribution lost at Primark.
Statutory operating profit for the period reduced by 8% to £320m, as exceptional items decreased from a charge £309m last year to £25m this year.
Even Primark must succumb to the online revolution eventually
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20 April 2021 • 8:36pm
There was something strangely reassuring about the queues that formed outside Primark’s Oxford Street store when high streets reopened last week.
Economists still rely heavily on official data but like road traffic, restaurant bookings and more obscure measures such as the Big Mac index and even the plastic surgery indicator, the appetite for Primark’s cheap clothing has proven to be a reliably unorthodox way to gauge the health of the economy.
Primark shopper numbers back to pre-Covid levels
Published
image copyrightPA Media
Primark has said the number of people visiting its stores in England and Wales last week after lockdown eased reached pre-pandemic levels.
The chain said the stores delivered record sales in the first week since reopening after more than three months.
Unlike most High Street retailers, Primark has no online operations.
As a result, the business has been hit hard by Covid restrictions and estimates it lost £1.1bn in sales while stores were closed.
However, it said more than half of its stores broke their own sales records when they reopened last week.
20th April 2021
Whilst its Primark clothing chain has faced considerable disruption during the pandemic, Associated British Foods (ABF) Grocery division has delivered another period of robust growth.
The unitâs total revenue increased 8% to £1.83bn over the 24 weeks to 27 February, with increased retail demand offsetting weaker foodservice sales as a result of the pandemic-related restrictions. Adjusted operating profit was up 6% to £199m, driven by its Twinings Ovaltine and UK grocery businesses.
Twinings and Ovaltine were said to have had a strong first half despite weaker demand in out-of-home channels. Twinings revenue was ahead of last year, driven by growth in herbal and fruit infusions with a particularly strong performance in France. Volumes continued to benefit from an increase in home consumption as a result of Covid-19, as well as new product launches. Meanwhile, Ovaltine delivered growth in its major markets with improved performance in Thailand and Brazil,