Bonmarché pre-tax profits up 68.1%

YORKSHIRE clothing retailer Bonmarché has reported a 68.1% rise in pre-tax profits after a strong first half.

The Wakefield-based fashion retailer, which floated on AIM at the end of last year, posted pre-tax profits of £6.4m for the 26 weeks to September – up 68.1% on last time with growth of 15% on an underlying basis.

Total revenue rose by 11.8% to £91.1m with store like-for-likes sales growth of 7.8%.

Online sales penetration accounted for 7.2% of total sales for the six months, up from 5.3% for the comparative period last year.

Beth Butterwick, chief executive, said: “We are pleased with Bonmarché’s first half performance and our progress against our strategic objectives.

“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.”