Figures show that B&M’s adjusted pre-tax profit increased 17.2% to £77.9 million and revenue rose 18.9% to £1.1059 billion and by 17.7% on a continuous currency basis in the six months to 24th September.

Sales also grew 18% in the UK which was helped by B&M’s new store opening programme, which included 20 net new stores and relocating six smaller, low profit shops into bigger more up-to-date units.

Chief executive at B&M, Simon Arora, commented: "B&M performed strongly in the first half of the financial year, serving customers well and delivering good growth in revenue, profit and cash flow.

“Naturally, we are mindful of the current economic uncertainties in the UK but given the strength of our retail model and with the full benefits now flowing from the step change investments we made last year in our store opening programme and new supply chain capacity, we are confident of meeting expectations during the remainder of this year.”

The company said the incorporation of its German business, Jawoll, into the group is now complete and that its plan to open 19 new stores this year is on track.

B&M chairman, Sir Terry Leahy, said: "With our strong value proposition, unique sourcing model, financial strength and well-invested store network and infrastructure, B&M is equipped to prosper in a challenging and uncertain retail environment.

“B&M has a proven strategy for growth with plenty of opportunity for high returning store expansion in our chosen markets, and we can fund that investment comfortably from our internal cash resources. These characteristics are rare in modern retailing."