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Primark like-for-likes rise 4%

Associated British Foods said that Primark, its value retail chain, saw profits and sales substantially ahead of the previous year which helped offset declines in other parts of its business.

Primark's performance was boosted by increases in selling space and like-for-like sales ahead 4%. In January, Primark said sales were ahead 26% for the 16 weeks to January 5. ABF said in a pre-close statement this morning that that trend had continued.

Primark will open eight stores in the second half of the year including four shops in Spain.

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