British fashion retailer Primark is set to separate from its parent company, Associated British Foods (ABF) — a conglomerate that also owns food brands such as Twinings, Kingsmill, and Patak's — in a demerger expected to complete by the end of 2027. The announcement came alongside a mixed set of half-year results, with group sales falling 2% to £9.46bn and pre-tax profits down 9% to £632m, as Primark's established stores saw a 2.7% sales decline amid weak consumer confidence in Europe and concerns that the ongoing Middle East conflict could dampen spending further. ABF chair Michael McLintock said the split was the best way to maximise long-term shareholder returns, with current chief executive George Weston set to lead the food business post-demerger, while finance veteran Eoin Tonge will take charge of Primark as an independent entity.