Discount retailer, B&M Bargains, has released double-digit growth in both sales and profits for 2012.
B&M Bargains posted an increase of 31.5% to £937.2m in the full year to 31 December 2012, while Pre-tax profits grew by 43% to £90.6m. It also extended its portfolio from 271 to a reported 324 in the same period. B&M has consistently outperformed the market with sales growth of 17.4% reported in 2011 and 43% reported in 2010.
In December 2012, B&M was purchased by US private equity firm, Clayton Dubilier & Rice. The firm has said that it wants to accelerate B&M's growth by expanding beyond the UK. High street discount rivals Poundland and 99p Stores already have successful operations in Ireland, showing the potential scope for the model outside the UK.