Associated British Foods said today it expects half-year sales and adjusted operating profits to be "strongly" ahead of a year ago.
ABF also anticipates these latest financial figures will be better than those achieved in the half year to the end of February 2020 - the period just before the UK went into pandemic lockdown.
The diversified international food, ingredients and retail group has 128,000 employees and operations in 53 countries.
More than half its workforce are at its Primark operation, an international fashion retailer with 400 stores in 14 countries.
ABF's interim results for the latest half year are to be announced on April 26.
The company said in this morning's trading update: "Primark sales for the first half are expected to be well over 60% ahead of last year at constant currency with an operating profit margin of some 11%.
"This reflects the fact that all our stores remained open and trading throughout the period, except for short periods in Austria and the Netherlands.
"The effect of inflation on raw materials and the supply chain in Primark this first half has been broadly mitigated by a reduction in store operating costs and overheads and a favourable US dollar exchange rate."
ABF said all its food businesses have experienced increasing inflationary pressures in raw materials, commodities, supply chain and energy.
It went on: "We have been taking steps to offset these higher input costs through operational cost savings - and where necessary in grocery, ingredients and agriculture the implementation of price increases.
"However, actions on price inevitably lag input cost inflation. As a result, we expect some margin reduction in these three businesses at the half year but expect our plans to deliver a recovery in the run-rate of these margins by the financial year-end.
"We expect further growth in profit at AB Sugar at the half year."
Meanwhile, updates are due from many other big UK companies in a busy week for financial results.
Investors will be very interested to see any comments on what effect the Russian invasion of Ukraine and the sanctions which have followed are going to have on the business environment.
Full-year results are due tomorrow from abrdn, while Wednesday will see annual results from Aviva, Persimmon and Weir Group.
Taylor Wimpey's full-year results are on Thursday, and Hammerson's annual results are on Friday.
FTSE 100
The UK's top share index had a roller coaster time last week after fighting broke out in Ukraine.
The FTSE 100 opened at 7,513 on Monday, but suffered big falls to just 7,207 late in the week before recovering to close at 7,488 on Friday.
The index is seeing more turbulence this morning, being down nearly 80 points at 7,410 shortly after trading started.
The three top indices in the US - the Dow Jones, the S&P 500 and the Nasdaq - are all expected to also open in the red when they open later today.
Companies reporting today
- Finals: Genesis, RHI Magnesita NV
- Half-year results: Hays
- Trading update: Associated British Foods