AB Foods 3Q Revenue Rose, to Trial Click & Collect Service -- Update
20 Juin 2022 - 9:45AM
Dow Jones News
By Michael Susin
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 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 michael.susin@wsj.com
(END) Dow Jones Newswires
June 20, 2022 03:30 ET (07:30 GMT)
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