Dow Jones Newswires: AB Foods revenue climbs 32% as Primark sales top prepandemic levels

Associated British Foods PLC said Monday that revenue for its fiscal third quarter increased, with Primark revenue beating prepandemic levels, and said it will trial a click-and-collect service in some U.K. stores. The British conglomerate
ABF,
0.84%
posted revenue for the period ended May 28 of 4.05 billion pounds ($4.95 billion), up 32% from the same period a year ago at constant currency.

The FTSE 100 listed company said Primark revenue increased 81% to GBP1.73 billion as all stores were open during the period. Sales in the quarter were 4% above prepandemic levels three years ago, it said. Primark is on track to deliver an adjusted operating profit margin of 10% for the full year, the company said. The company said it will launch a trial of a click-and-collect service in up to 25 Primark stores with an initial offer of children clothing and products toward the end the year. The service will allow customers to order items online and collect in store. “The expansion of the offering will be particularly attractive for our customers who do not regularly shop in our larger stores,” it said. Total food businesses revenue rose 10% to GBP2.32 billion due to pricing actions taken to recover input cost inflation, it said. AB Foods said full-year guidance remains unchanged. Shares at 0707 GMT were up 30.5 pence, or 1.9%, at 1,639.0 pence. Write to Michael Susin at [email protected]

                  

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