Speke-based discount chain B&M has opened a record 47 stores in the past six months, boosting sales by 26.8% to £930.3 million and sending pre-tax profits soaring to £66.73 million, compared with a pre-tax loss of £16.45 million the year before.
Chief executive Simon Arora said: “Our unique retail model continues to deliver strong revenue growth as we extend our geographic footprint.
“In the UK, our teams have opened 47 new stores in just 26 weeks – a record rate of openings for B&M.
“The business is growing at an annualised rate of over £400m per year, which brings its own operational challenges.
“However, the investment made in our supply chain infrastructure and in other core functions will support the next stage of our expansion.
“Our colleagues have worked incredibly hard over the period and I am very proud of their continued achievements.”
Chairman, former Tesco boss Sir Terry Leahy, added: ““B&M has made good progress in the first half of the financial year towards its strategic goals of reaching at least 850 UK stores and creating a platform for longer term growth in Germany, while delivering further pleasing growth in sales, profits and cash generation.
“We are well prepared for the rest of the year and beyond.”
