Discount fashion chain Primark has grown profits by another 29% after a “magnificent” year in which its sales jumped to almost £5bn.

Falling sugar prices are set to hold back earnings growth at Associated British Foods in the next two years, offsetting continued strong performance at the group’s Primark discount fashion chain.

Budget fashion chain Primark delivered another blow to rival Marks & Spencer today by reporting six more months of booming growth.

Associated British Foods said sales growth slowed at its Primark clothing chain as business conditions returned to normal after an “outstanding” start to the year.

Penneys and Primark owner Associated British Foods today said retail trading so far this year had been good, particularly in light of the economic climate.

Budget retailer Primark saw sales boom over its Christmas trading quarter as it continues to build up its presence on the high street.

UK clothing chain Primark is to set up shop in branches of department store Selfridges as the value retailer seeks to increase its hold on the high street.

London’s leading index rose for a third day running, but gains were modest as a downgrade of UK banks by a top ratings agency overshadowed a better than expected jobs report in the US.

The London market closed lower today as improved US jobs data failed to offset fears over the wider economy.

BUDGET retailer Penneys says that clothing prices will not rise despite the soaring cost of cotton.

THE owner of discount fashion chain Penneys has reported sluggish sales in Britain although consumer demand is holding elsewhere in Europe, including Ireland.

The banking sector dragged on the London market today after HSBC posted annual results which fell below market expectations.

More evidence of the squeeze on household budgets emerged today after the owner of Primark revealed a “noticeable” slowdown in UK consumer demand.

Shares pressure in the retail sector weighed on the FTSE 100 Index today as a mixed session on Wall Street also hit stocks.

Mining stocks weighed the FTSE 100 Index down today amid fears that further Chinese monetary tightening will choke demand.

Associated British Foods today reported double-digit sales growth at Primark over the key Christmas trading period but again warned the retailer’s profits would be squeezed by the rise in cotton prices.

Concerns over Christmas trading and lower commodity prices called a halt to the new year rally today as the FTSE 100 Index sank into the red.

London’s FTSE 100 Index made further advances today thanks to a raft of well-received updates from the likes of Barclays and Schroders.

Strong figures from blue-chip heavyweights Barclays and Vodafone fuelled a further rally on the London market today.

Primark today reported an "outstanding" performance for the past year, with operating profits up 35%, but its owner warned that future margins will be squeezed by the soaring costs of cotton and transport.

The London market marched ahead today as new banking regulations and reassuring Chinese data whetted investors’ appetite for risk.

Fashion chain Primark today became the latest high street retailer to warn over rising costs as it battles against higher cotton prices and tax hikes.

The FTSE 100 Index plunged 4% in another panic-driven session today as world markets took a fresh battering from the Greek debt crisis.

Primark owner Associated British Foods today predicted a first half profits jump and said growth should continue throughout the year.

PRIMARK, which trades as Penneys in Ireland, saw sales jump 19% in the months leading up to Christmas but Irish sales suffered slightly.

The FTSE 100 Index was mired in the red today as investors showed nerves ahead of tomorrow's UK budget and banking stocks continued their slide.

The FTSE 100 Index struggled for direction today as the UK's drift into deflation took the shine off upbeat retail results.

THE success of Primark, which trades as Penneys in Ireland, showed no signs of ending after its owner promised excellent results from the chain.

Associated British Foods today said growth at discount clothing retailer Primark will help offset falling sugar profits and debt costs.

Associated British Foods today reported a 24% jump in third quarter revenues, despite slower sales growth at discount fashion chain Primark.

Kingsmill and Ryvita maker Associated British Foods today said interim profits rose 5% after another “excellent” performance from clothing arm Primark.

Associated British Foods today said Kingsmill firm Allied Bakeries and clothing retailer Primark continued to make progress.

Housebuilders and retail stocks cheered the London market today after an encouraging series of trading updates today.

Primark continued its run of success on the high street today after its owner reported “better-than-expected” Christmas sales for the chain.

Associated British Foods today said profits rose 10% after the retail-to-grocery business benefited from further strong growth at Primark.

The founding family of British cereals firm Jordans has sold a stake in the business to Kingsmill owner Associated British Foods, it emerged today.

Marks & Spencer led the FTSE 100 Index forward today with a stellar performance as strong half-year figures from the resurgent retailer sent its shares to a record high.

Marks & Spencer shares hit a new record today as investors celebrated a sparkling set of half-year figures from the resurgent retailer.

Associated British Foods posted a fall in profits today after difficult trading conditions at British Sugar and its Kingsmill bread division.

An afternoon rally in London powered the FTSE 100 Index forward today to close above the 5900 mark for the first time since June 2001.

The uncertain run by the FTSE 100 Index continued today when early gains of more than 35 points were wiped out following a weak start in New York.

Pharmaceuticals firm Shire injected enthusiasm into London shares today as investors welcomed news it had settled a patent dispute.

Associated British Foods hailed the “outstanding” performance of its Primark retail chain today after group profits rose by 12% to £590m (€872.5m).

Falling demand for precious metals sent mining stocks plummeting today as the Footsie slumped to its lowest level in six weeks.