For its first half of its fiscal year 2014/15, Associated British Foods forecasts turnover growth at its clothing chain Primark, that should cancel out the negative results at other branches.
More retail space
ABF expects a 16 % turnover growth for Primark in its first half of 2014/15, mainly because of an 11 % increase in retail space: for the current fiscal year, the group intends to add another 93,000 sqm of retail space.
According to ABF, Primark's like-for-like turnover has reached last years's levels: it was somewhat disappointing at the end of 2014, partly because of the warm weather, but it did manage a 15 % turnover increase in the quarter that ended on 3 January 2015.
Associated British Foods will present its six-month results on 21 April 2015, talking about the period up until 28 February 2015.