Primark sales soar more than a FIFTH in a year as they beat profit expectations Sales soar 22% in a year as 16 new stores help boost profits Retailer plans to open store opens in France in December Primark plans to continue aggressive expansion in the next year Budget fashion retailer Primark saw annual sales leap by more than a fifth on the back of strong summer trade and an aggressive expansion plan, its owner Associate British Foods said today. Sales at stores open for more than a year rose 5 per cent as shoppers returned to the high street, while 16 new store openings across Europe, including a second store on London's Oxford Street just under a year ago, and a strengthening euro also helped drive Primark's sales up by 22 per cent overall. Lower discounts during its summer sale also bolstered the chain's profit margins for the year, ABF said. Roaring ahead: Primark shrugged off other retailer's concerns about the high street to post a 22 per cent leap in annual sales helped by newly opened stores such as this one in Oxford Street Primark plans an "extensive" programme of openings in time for Christmas, and intends to add more than a million square feet of retail space during its new financial year, on top of about 800,000 square foot opened this year. Its latest store opens this week in West Bromwich will give it 257 branches, while its first store in France will open in Marseille in December. A warm Autumn last year ensured a strong start to the financial year for Primark, although freezing temperatures during March and April subdued growth. But summer trading was strong, driving the profits and sales boost, ABF said. Analysts at Panmure Gordon upped their underlying profit expectations for Primark to £505million from £473million, adding they expect "another strong year in 2014." Elsewhere, ABF said its Kingsmill bread brand leapfrogged Hovis to claim number two spot in the UK market, behind Warburtons. Its Allied Bakeries business benefited from growing volumes and a contract to supply the Co-op from April, which grew Kingsmill's market share. But ABF added the market remains intensely competitive with some pressure on margins. Silver Spoon sugar's sales and profits will be lower than last year reflecting an "especially competitive" year, it said. Its Jordans and Ryvita brands had an excellent year, helped by advertising campaigns, while its Twinings tea brand grew sales in all its major markets.