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

The owners of healthy eating brands Jordans and Ryvita today announced plans to merge their operations into one business.

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 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.

British food to clothing retailer Associated British Foods - the owner of Penneys - said today it was now a better balanced business after acquisitions helped profits rise by 16%.