70.3% rise in pre-tax profits at Bonmarché

Bonmarche administration

Value womenswear retailer Bonmarché’s turnaround strategy has gathered pace as it revealed skyrocketing half year profits.

In the 26 weeks to September 30, underlying pre-tax profits rose 70.3 per cent to £4.2 million from £2 million a week earlier.

Its sales also saw healthy growth over the half year, with like-for-likes jumping 4.3 per cent across the group and total sales climbing five per cent to £97.8 million.

Strong sales were helped by a 38.6 per cent rise in online sales, one of five areas of focus in the store’s turnaround programme.

“We are only at the beginning of the journey in some areas of our strategy and there is a strong plan to support future growth,” chief executive Helen Connolly said.

“I do not expect the clothing market to become any less challenging in the near future, and therefore remain focused on continuing to grow by profitably gaining market share.”

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