Home Bargains owner TJ Morris has posted a rise in sales and profit as it pushes ahead with its expansion plan.
The Liverpool-based discounter saw its turnover jump 10.2% from £3.4bn to £3.7bn in the year to 30 June, according to accounts filed with Companies House.
Pre-tax profits rose 12.4% during the period, up from £293m in 2022 to £332m.
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TJ Morris said the was positive results were driven by “opening of additional retail outlets during the year, shop re-sites and an increased contribution from existing stores”.
The retailer said it would look to sustain growth by continue to “expand the company’s retail operations throughout the UK by opening new stores, continuing to provide its customers with quality products at bargain prices, and offering new retail opportunities to customers”.
It intends to “increase the number” of retail outlets in the year ahead. The company currently operates 594 stores but its aiming to open between 800 and 1,000 retail outlets, which “should lead to further growth in turnover and profitability”.
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