Updated: Monday, 19th August 2019 @ 10:17am

Primark reach record buy-mark as Manchester Piccadilly expansion pushes up profit growth and jobs

Primark reach record buy-mark as Manchester Piccadilly expansion pushes up profit growth and jobs

By Dean Wilkins

By spreading their wings and donning a magnetising blue light that shines out across Manchester’s Piccadilly Gardens, Primark have showed their dominance on the high street and now their financial strength.

The low-cost retail chain has boasted £3.5billion in sales this year – dispelling any concerns about the worldwide recession – and has even created 10,000 jobs.

And with 158 of its stores 244 based in the UK – five in Greater Manchester – operating profits grew to more than £350million in September.

Chief Executive George Weston said: "These are very good results for the group and include exceptional performances from AB Sugar and Primark.

“Global economic uncertainty remains but we have opportunities for further investment and the strength of the group balance sheet and a strong cash flow will enable us to pursue them with confidence."

On top of their 19 stores already opened this year, 12 more will be completed in time for Christmas and the expansion of Manchester city centre’s store will be finished by spring.

Sales for Primark have doubled in the past five years and they currently employ 43,000 people.

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