Primark still doing well

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BUDGET retailer Primark is showing no evidence that its storming Christmas performance resulted in a New Year sales hangover.

The chain’s owner Associated British Foods said Primark’s trading so far this year had been good, particularly in light of the economic climate.

Fuelled by nine store openings in the first half of its financial year, AB Foods said its retail sales for the six months to March 3 are expected to be 15 per cent ahead of last year, with like-for-like sales up two per cent.

The update comes a month after AB Foods reported an ‘exceptional’ Christmas at Primark’s 232 stores, with trading much improved on a sluggish autumn.

Across the group, which also owns Kingsmill bread and Twinings Ovaltine, profits for the half-year are in line with hopes.