By Jonathan Davies

Primark sales nearly reached £5bn in the financial year, according to its owner Associated British Foods.

Primark total sales hit £4.95bn, a 16% rise on last year. AB Foods described it as "another magnificent year".

AB Foods said the rise in sales was largely due to 21 new Primark stores and the impressive performance of its autumn/winter and spring/summer ranges.

The strong growth of sales helped AB Foods to a profit of £1.02bn for the year.

"Primark's trading success and significant expansion delivered another magnificent year," said AB Foods chief executive George Weston.

The budget fashion retailer opened its first stores in France this year, and performance had been "exceptional" it said.

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