Value retailer B&M has recorded strong growth in its full year to 26 March. Total group revenue increased by 23.6% to £2.04bn.
Full year adjusted pre-tax profits leaped 19.5% to £161.4m, while like for likes grew by a steady 0.3%.
B&M opened a total of 79 UK stores in the period taking its group total to 499 stores. The retailer has built a network of 3.3m customers on average each week in comparison to its previous total of 2.6m in 2014.
The business plans to open a further 50 UK sites and around 19 in Germany.
“B&M has delivered another year of strong progress with the implementation of our strategy for growth and an excellent financial performance in terms of overall sales, profits and cash generation. Our expansion strategy is on track to deliver further growth during the year ahead in our chosen markets” said Sir Terry Leahy, former Tesco boss and B&M chairman.
“Whilst we are mindful that the general economic outlook is uncertain, and the market remains fiercely competitive, we have made a solid start to the new financial year. We believe our unique business model places us in a strong position and we look forward to the year ahead with confidence” noted B&M Chief Executive Simon Arora.
