By Ed Monk
PUBLISHED:09:34, 10 September 2012| UPDATED: 13:39, 10 September 2012
www.thisismoney.co.uk/money/markets/article-2200951/Primark-owner-Associated-British-Foods-defies-gloom-profit-promise-expansion-plan.html#ixzz2I3jGBkHW
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Primark owner defies gloom with profit promise and expansion plan
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Associated British Foods, which owns Primark as well as several household name food brands, has told investors that profits will grow and that it will open more stores.
Sign of the times: Cut-price clothes retailer has flourished in the squeeze.
Primark has been the star performer within AB Foods over recent years as it has ridden the boom in demand for budget clothing on the high street.
The company will boost its presence on London's Oxford Street later this month with a new four-floor outlet. It will also have 28 outlets in Spain after opening five new stores in the debt-laden country this summer.