Sales at B&M Bargains increased by 31% to £935.2m in the 12 months to 31 December 2012 as the popularity of the high street discounter continued to rise.
Strong profit growth
B&M Bargains also recorded impressive growth in profits in the newly filed accounts at Companies House. Operating profits grew 73% from £49.2m to £85m, while pre-tax levels showed similar growth, jumping 76%, from £47.5m to £83.8m. The discounter also added 54 stores in the period, taking its total to 324, as it expanded into new regions in the UK.
In its Companies House accounts, B&M Bargains said, "Conditions in the UK retail market were challenging and are likely to remain so for the foreseeable future. Despite this background, the group has continued to deliver a strong financial performance and increased its turnover from the existing estate and has seen continued growth in both customer footfall and the number of transactions".
UK discounters march on
B&M Bargains is one of a number of retailers in the discount channel growing at huge speed. Across the board the channel has seen outstanding performance. While this is due in-part to its strong value proposition, enhancements in quality, range and marketing across the sector have improved shopper perceptions and have played a significant role in the channel’s success story. IGD forecasts that the discount channel will grow by 17.6% in the 12 months to April 2014, and will grow by an impressive 96.3% between 2013-18.
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