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Bonmarché profits rocket in first year as PLC

Bonmarché’s profits have risen more than 66% to £8m, up from £4.8m in 2013, in its first full-year results since going public.

The value retailer saw revenues climb 11.9% to £164.3m for the year to March 29, while like-for-like sales rose 10.4%. Earnings jumped 50.6% to £13.7m, up on £9.1m last year. Margins rose 2.7% to 6.8%, and it has recommended a final dividend of 2.1p per share.

In the women’s value sector it climbed from 2.8% of the total market share to 3.2%, highlighting successful product and price enhancements as key parts of its strategy.

It has also started rolling out new concept refits and started its garden centre trial, which will move to “ a significant roll-out programme for financial year 2015”. Drapers revealed the move back in October 2013.

Chief executive Beth Butterwick said that “while 2013 was a year of recovery for the group, 2014 was a year of growth”.

She added: “This was the first full year of implementing our new business plan and we have made good progress in each of our key strategic areas: product, multi-channel, stores and our service proposition.

“We are confident the successful execution of our forward growth strategy, combined with our established position as one of the largest pure-play value retailers dedicated to women over 50, will enable us to continue building on our appeal and accessibility and, in turn, deliver value for our shareholders.”

Chairman Tim Mason added: “We have been able to drive the business forward at a pace and the robust results reflect the growth achieved.”

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