The owner of the fast fashion brand Primark has said group profits will bounce back above pre-Covid levels in its first half, but sales at its UK retail chain still remain 9% below 2019 levels.
Associated British Foods, which also owns brands including Twinings and Ovaltine as well as a sugar business, said that it expects total sales and operating profits to be strongly ahead of the equivalent period in 2021. Primark sales for the first half are expected to be more than 60% ahead of last year.
