Primark may be split from the food brands owned by its parent company Associated British Foods (ABF), the company revealed as it announced its results for the year ending 13 September.

Primark revenues increased 1% to £9.5bn for the year, with store rollouts in Europe and the US contributing 4% to sales growth. Sales in the UK picked up pace in the second half of the year as the retail renewed its focus on its value proposition.

However, the company also noted that it expected the “subdued” retail market to affect Primark’s revenues into next year.

ABF said that it was considering splitting Primark and its foods brands into two separate companies.

The business has launched a strategic review, implemented with the help of Rothschild & Co and with the support of its biggest shareholder, the Weston family’s Wittington Investments.

ABF said that no decision had been made and that the board would provide an update on the review “as soon as practicable”.

ABF CEO George Weston said: “This was a year of intense strategic and operational activity within ABF. 

“Most of our businesses delivered robust financial results, while navigating a challenging external backdrop.

“Looking ahead, we are confident in the group outlook for 2026 although much depends on the consumer environment, which is particularly unpredictable at the moment.”

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