Associated British Foods plc (ABF), which owns Primark, has reported a 13% increase in sales to £1.998bn for the fast fashion chain in its second quarter.
Sales in the 12 weeks to 27 May 2023 were boosted by warm summer weather in the UK, higher selling prices, and a revamp of its website in Germany, Spain, Italy and the US.
Like-for-like sales were up 7% compared with the same period last year.
ABF also reported a 13% rise in sales in its food business, which encompasses a wide range of brands including Allinson’s, Patak’s, Ryvita, Kingsmill, Ovaltine, Twinings and Jordans.
“We have seen strong constant currency sales growth in Grocery and Ingredients largely driven by the necessary pricing actions taken earlier in the year to offset input cost increases,” the company said.
Grocery sales for the quarter amounted to £1.058bn and total group sales were up 16% to £4.726bn.
Based on current trading conditions, ABF expects adjusted operating profit for the full year to be “moderately ahead of last year”
