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B&M grows full year sales and profit

B&M has increased both its sales and profits in the year to 25 March as it continues its rapid store expansion programme.

GENERAL MERCHANDISE

B&M grows full year sales and profit

B&M has increased both its sales and profits in the year to 25 March as it continues its rapid store expansion programme.

Group revenue climbed by 19.4% to £2.4 billion as UK like-for-like sales grew by 3.1%. Pre-tax profit increased by 18.4% to £182.9 million.

During the year, B&M opened 53 new stores in the UK, including 9 relocations to large, modern Homestores, and 19 new stores in Germany. With a pipeline of 40-50 new stores planned in the UK in the current financial year, B&M has revised its UK store target from 850 to at least 950 stores.

Sir Terry Leahy, B&M chairman, said: "B&M has delivered further strong increases in sales, profits and cash generation whilst pushing on with rapid store expansion in line with our strategy for growth.

“There was a robust return of trading momentum during the second half which has continued into the early weeks of the new financial year, affirming that B&M's offer resonates well with customers during a period of economic uncertainty and profound structural change in retailing."

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