Executive Summary

• Associated British Foods (ABF) reported its 9M18 trading statement for the 40 weeks ended June 23, 2018. This report focuses on Primark, the company’s retail division.
• In its 9M18 update, Primark reported a year-over-year revenue increase of 7% and an increase of 6% at constant currency.
• Primark has expanded its selling space by 0.8 million square feet since the beginning of the fiscal year.
• For FY18, management expects improvement in Primark’s margins to result in higher profit growth.