• Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups
 

Talk Finance

£$$€№₮IAL €¢¤₦¤MI¢ №€₩$
  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

Talk Finance

  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

In Money Matters

Primark and AB Foods lost 35 percent of profit, 12 percent in turnover

3rd November 2020

Primark and AB Foods lost 35 percent of profit, 12 percent in turnover Pin It

The COVID crisis weighs heavily on the results of Associated British Foods, the parent group of the Primark clothing chain. Because many stores kept the doors locked because of quarantine, profits have plummeted over the past year.

In addition, Primark was one of the hardest-hit clothing stores, as it does not sell products online. During the summer period there was a strong recovery, but at present many countries in which primary branches have in place measures to prevent the spread of the coronavirus are in place. In Ireland, Belgium, France, Spain and Slovenia, for example, the shops are closed. It’ll cost the company hundreds of millions of pounds a month.

Primary accounts for more than half the profits of AB Foods, which is also active in the food and sugar sectors. These parts did well in the last financial year, because many people stay at home and spend more money on these products.

The adjusted pre-tax profit of AB Foods was 35 percent lower last year at GBP 914 million, slightly over EUR 1 billion. The group’s total turnover decreased by 12 percent to £ 13.9 billion.

Share

No Comments

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Post

High court authorizes Unilever…

In Money Matters

High court authorizes Unilever to become whole-British

View Post

Next Post

Early election results provoked fall…

In Money Matters

Early election results provoked fall in gold prices, oil goes up

View Post

Boris Johnson

In Domestic Affairs

Boris Johnson comes with the long roadmap from the lockdown

View Post

In Money Matters

Moody’s expects lower bounceback for Eurozone and Britain

View Post

In Money Matters

EU zone economic confidence reaches 93.4 with the reasons for euphoria still to uncover

View Post

In Money Matters

IAG advocates the digital ‘testing and vaccination passports’ for passengers

View Post

Newsletter

Latest News

View

Printing and design companies in US and UK heavily affected by the crisis

1st March 2021

View

Alex Salmond causes unrest in troubled Scottish government

27th February 2021

View

Flat opening on Friday US markets

27th February 2021

View

IAG advocates the digital ‘testing and vaccination passports’ for passengers

26th February 2021

Allow us to introduce ourselves

Talk-Finance.co.uk, the analytic media. We are focused on the fresh business, M&A and financial data. We pay attention to the interesting new projects and startups while not letting the whole picture to let unnoticed.

  • Investing.com
  • Runch.co.uk

Sign Up for Our Newsletter

Our friendly crew

  • Matthew Patridge, the chief Editor
  • Chris Kimble, the managing Editor
  • Matthew Weller, webmaster&technical stuff
  • Charles Sizemore, author
  • David Stevenson, author
  • Helen Rush, author

Contact us by [email protected]

© 2019 Talk Finance - All Rights Reserved. [email protected]