Primark to report 13pc sales rise

The incident, which was caused after workers were ordered to return to the building despite structural failings being discovered on the day before the collapse, is thought to be the most deadly in history,

Nearly one year on from the catastrophic event, analyst Numis was positive about Primark, but raised concerns about ABF’s sugar arm. German rival Südzucker issued a warning in April that profits will be approximately 70pc lower this year due to a weak economic environment in Europe and new regulations that will lower its price.

Numis said: “In its February, update ABF said that its earnings before interest and taxes will be 'in line’ with last year’s rebased £493m, with profits under pressure on sugar but with encouraging results from grocery and with Primark sustaining its strong growth record.

“The highlight of the briefing will be the Primark story – it now has two stores in France and management is confident that at least a 12.2pc overall space addition can be achieved this year, leading to 10.1m sq ft at the end of full year 2013-2014.”

Analysts at Charles Stanley have predicted a 2.4pc decline in AB Foods’ turnover, despite a 4pc increase in like-for-like sales, with operating profits up slightly from £496m to £500m.

Shares in AB Foods closed up 35p at £27.11 on Friday.

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