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Bonmarché profits soar 68.1%

Bonmarché has announced a 68.1% rise in profit before tax to £6.4m for the 26 weeks to September 27 as “continued developments” to product, pricing and supply chain take hold.

Total revenue was up 11.8% to £91.1m for the half, while store like-for-like sales increased by 7.8%.

Profit before tax margin increased from 4.7% to 7%, while online sales made up 7.2% of penetration total sales for the six months, up from 5.3% in 2013.

The retailer said sales increased due to “range improvements” and an increase in average selling price through stretching exit prices.

The business also “rationalised” its supplier base during the period.

Bonmarché, which won the title of Drapers Retail Business of the Year (over £125m turnover) 2014 last month, refitted 11 stores in the first half and has approximately 40 further refits planned for next year.

Beth Butterwick, chief executive of Bonmarché, said: “Towards the end of Q2, trading conditions became more difficult due to the unseasonably warm weather. These conditions have continued into the second half; however, on the basis that the weather returns to its normal seasonal pattern, the board expects the current year’s performance to be in line with its original expectations.”

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