AB Foods Considers Spinning Off Primark
Associated British Foods (AB Foods), the owner of Primark, is considering spinning off the retail chain from its food business after a drop in annual profits.
The company announced a review of its structure alongside its full-year financial results, which reported an adjusted pre-tax profit of £1.7bn for the year to September 13, a 13% decline compared to the prior year.
Sales across Primark grew by 1% year-on-year to £9.5bn, with stronger trading in the second half balancing out a weaker first half.
AB Foods told investors that no decision had been made, but its review may result in the board deciding to separate Primark from the food business.
Author's summary: AB Foods considers spinning off Primark.
More News
- Bridget Phillipson must not abandon special needs children | The Spectator Australia
- Mamdani prevails in New York City mayoral race
- Industry welcomes “collaborative” approach to workplace health recommended by Mayfield review
- Nassau police officer Ian Fogarty honored by county legislature
- The biggest, brightest Supermoon of 2025 rises Tuesday night - The Weather Network