Associated British Foods (ABF), the parent company of Primark, attributed its strong first-half financial results to restored normalcy in supply chains and improved operational performance. The company reported a 37% increase in profit to £881 million and a 46% increase in the interim dividend to 20.7p, benefiting the Weston family that controls the business.
ABF’s Chief Executive, George Weston, highlighted the recovery of group profit margins to normal levels and the company’s ongoing investment in sustainable growth. Despite geopolitical risks and ongoing cost of living pressures, the Group remains optimistic about delivering strong shareholder returns.
The collaboration between Primark and singer Rita Ora has also contributed to the company’s positive results.
