Primark profits up 44% to £514m

Press Association
Primark profits up
Primark profits up

Marks & Spencer's high street rival Primark hailed an "outstanding year" today after its annual profits jumped by 44% to £514 million.

The retailer, which has 161 of its 257 stores in the UK, grew sales by 22% to £4.3 billion in the year to September 30, driven by the addition of new space and like-for-like growth of 5%.