Bonmarché sees 66% increase in profits in maiden results
Friday 13 June 2014
Bonmarché has reported a 66 per cent jump in annual profit in its first set of full-year results as a public company.
The over-fifties-focused chain, which floated last November at 200p a share, reported pre-tax profits to the end of March up 66.1 per cent to £8 million on sales of £164.3 million, ahead nearly 12 per cent on last year.
Chief executive Beth Butterwick said it had increased its market share of the “women’s value sector” by 14 per cent, to 3.2 per cent.
A new website has boosted its performance with online sales soaring 84%. The group plans five new stores and up to new 20 concessions in the coming year.
Kate Calvert, analyst at Investec, said: “Having already delivered an upgrade since its [flotation] , the full-year 2014 pre-tax profit was £100,000 better than expected and completes a successful first year as a listed company.”
The shares rose 1p to 284.5p, up more than 42 per cent on its float price. The strong results are a significant improvement. In January 2012 it was rescued by private-equity group Sun European Partners after it went into administration.
- 1 Nigel Farage: Me vs Russell Brand on Question Time – he's got the chest hair but where are his ideas?
- 2 Harry Potter fans can apply to the Hogwarts-inspired College of Wizardry
- 3 Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
- 4 Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
- 5 Orange Wednesdays are no more
Weather bomb in pictures: Storms cuts power for tens of thousands – and snow is on the way
Jessica Chambers: 19-year-old woman 'doused with lighter fluid and burned alive' in the US
Russell Brand calls Nigel Farage 'poundshop Enoch Powell' in BBC Question Time debate
Russell Brand was rendered speechless on Question Time by this man
Fury at Airbus after it hints the super-jumbo may be mothballed
Disgruntled RBS worker writes hilarious open letter to Russell Brand after anti-capitalist publicity stunt leaves him hungry
Nigel Farage defends Kerry Smith 'ch***y' comment: 'If you are going for a Chinese, what do you say you’re going for?'
Nigel Farage's approval rating hits 'record low' as popularity suffers in wake of Ukip sex scandal
Pakistan school attack live: Taliban kill at least 132 children in 'horrifying' massacre
Sony hack: Angelina Jolie branded 'seriously out of her mind' in further embarrassing leaked email saga
Panic Saturday: 13 million Britons spend £1.2bn – while 13 million others across the country live in poverty unable to afford food
iJobs Money & Business
$200 - $350 per annum: Carlton Senior Appointments: Managing Producer Office...
$125 - $225 per annum: Carlton Senior Appointments: San Fran - Investment Advi...
Up to £70,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...
Up to £65,000 per annum + benefits: Sheridan Maine: Are you a qualified accoun...