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The high street "Primarni" phenomenon has boomed in the recession with Britain's biggest discount clothes chain today unveiling big increases in sales and profits.
Primark, which is 40 years old this year, said its overall takings were up 20 per cent at £2.31billion while operating profits rose eight per cent to £252million.
The impressive financial performance, expected to outstrip rivals Next and Marks & Spencer which are also announcing results this week, has been helped by extraordinary sales of a number of "must have" products.
This year they included a £6 "It" bag inspired by a £700 Chanel design. It was described as the "definite High Street hero-bag of the year".
The chain, which is owned by grocery giant Associated British Foods, also said it plans to speed up its push into continental Europe with stores in Spain, Germany, Holland, Portugal and Belgium.
It opened 12 new stores during the year bringing the total to 191 with selling space increased by nine per cent. There are plans for a further 11 new stores including one in Wood Green in north London on 12 November.
But the results were criticised by charities, which said that Primark was only able to achieve such outstanding financial results by exploiting overseas workers. War on Want claimed employees in three Bangladeshi factories toiled up to 80-hour weeks for as little as 7p an hour. Simon McRae, senior campaigns officer at the charity, said: "Primark is booming by keeping clothes prices so low at a terrible cost to its garment workers' living standards.
"Letting the retailers police themselves has failed to ensure workers decent pay and conditions. Now Gordon Brown must act to stop this abuse." In a statement Primark said: "Sourcing from developing countries carries with it an obligation to ensure that workers making garments are treated fairly. Primark takes this responsibility seriously and has contributed to the industry-wide efforts to improve labour standards."
Primark said it had committed to undertake more than 1,000 audits of its factories in 2009, nearly doubling the number of last year.
