Continued store rollout provides sales boost for homewares retailer B&M, with further expansion planned for the coming financial year.
Highlighted within the groups preliminary results for the 52 weeks to 26 March 2016, total sales increased by 23.6% to £2,035.3m from £1,646.8m in 2014, with UK like-for-like sales up by 0.3% as the business opened a record 79 stores bringing its UK total to 499.
Adjusted group EBITDA rose by 16.2% to £202.5m, while adjusted pre-tax profit also experienced an uptick by 19.5% to £161.4m from £135m year-on-year.
During the period under review, B&M opened two new distribution centres, totalling 800,000sq ft, and has revealed that a further 50 new UK stores are planned to open in the UK for FY2017.
Sir Terry Leahy, chairman, said: “B&M has delivered another year of strong progress with the implementation of our strategy for growth. Our expansion strategy is on track to deliver further growth during the year ahead in our chosen markets.”
Simon Arora, chief executive, said: “We now regularly serve 3.3 million customers on average each week. Everyone at B&M has worked tremendously hard to deliver this market - leading growth and I would like to thank them for their continued commitment and hard work.”