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.

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

Associated British Foods today said half-year sales at its Primark retail chain was expected to increase by 6% despite a fire which destroyed its main UK warehouse.

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

Clothes retailer Primark was today preparing to bolster its presence in the UK after deciding to hold on to more former Littlewoods sites than originally planned.

US giant Heinz is expected to confirm today that it has bought the maker of HP sauces for €702m.

Premier Foods and Associated British Foods were today reported to have lost out to US giant Heinz in the battle for the maker of HP sauces.

Associated British Foods plc, the owner of British Sugar Plc, agreed to buy Billington food group, a British sugar importer valued at £7.7 million.

London’s FTSE 100 Index closed more than 1% lower today as investors took profits after a three day upward run.

Novartis is planning to sell off its health and food business within six months.