Spielwarenmesse: B&M ‘well placed’ for Christmas as half-year profits climb to £86.8m

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B&M ‘well placed’ for Christmas as half-year profits climb to £86.8m

14. November 2017 12:47 h:

Retail group has also announced that chairman Sir Terry Leahy is to retire

By toyworldmag.co.uk

The Liverpool-headquartered company achieved a pre-tax profit of £86.8m in the 26 weeks to 23rd September 2017, up year on year by 17.8%. Groupwide revenues, which includes sales from discount retailer Heron Foods and German business Jawoll, rose 21.7% to £1.35b.

The period saw B&M UK add 20 sites to its store portfolio, including three relocations. The expansion has put the firm on track to open 50 stores, of which seven are relocations, this financial year.

B&M has also announced that Peter Bamford, deputy chairman and senior independent director of Spire Healthcare Group, will replace Sir Terry on the board when he retires. Sir Terry has been involved with B&M for five years, and helped steer it onto the stock market in 2014.

Peter will become non-executive chairman on 1st March 2018.

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