North West based B&M Discount Group, who has stores in Stockport at Cheadle and at Portwood in Stockport town centre, has seen an increase in revenues of over half a billion according to the latest results for its financial year to March 30.
Group sales rose by 17.1% to £3.486bn, up from £2.976bn in 2018 with pre-tax profits rising by 8.7% to £249.4 – the largest share declared from their B&M brand.
The company trades from around 620 B&M Discount branded stores and 281 stores under the Heron Foods and B&M Express brands in Britain as well as the Jawoll chain in Germany and Babou brand in France.
Chief executive Simon Arora said:
“B&M has again delivered strong results against the challenging backdrop of continued structural change in our industry, rising costs and uncertain times for consumers, demonstrating that its value credentials remain as resonant as ever with customers, whether they need a bargain or just enjoy one.
“We have made important progress in establishing platforms for further long term expansion in both Germany and France, although there is much work to be done to implement the disruptive, value-led B&M model in these large new markets.
“We enter the new financial year with renewed trading momentum, particularly in the UK, a high quality new store expansion programme in place, and investing in our new infrastructure to support future growth.
“I’m confident B&M is well-positioned to deliver further strong progress in the current year and beyond.”