Bonmarché reports 5.3 percent revenue growth in FY16

London - UK womenswear retailer Bonmarché has reported a 5.3 percent increase in its total revenue up from 178.6 million pounds in 2015 to 188 million pounds for the 52 weeks which ended March 26, 2016.

During its fiscal year 2016, store like-for-like sales increased 0.7 percent and online sales grew 3.6 percent. Profit before tax reached 9.6 million pounds for the year, less than FY15 12.4 million pounds and pre-exceptional profit before tax was 10.6 million pounds, which is in line with the retailer’s revised expectations for FY16.

Bonmarché store like for like sales grow 0.7 percent in FY16

The retailer reported strong cashflow, with cash generated from operating activities coming in at 10.5 million pounds for the year. Underlying basic earnings per share were 18.3 p, with a recommend final dividend of 4.64 pence per share, bringing the total dividend for the year to 7.14 pence per share, up 5.0 percent for FY16.

During the 52 weeks to March 26, 2016 Bonmarché continued to focus on its strategic growth plan, which saw the retailer increase the number of “active” and “high-value, high loyal” customers in its bonus club and launch new partnership with new brand ambassador, Mark Heyes.

Bonmarché improved product size availability, which resulted in a 15 percent sales growth across leisurewear, trousers, skirts and lingerie. The womenswear retailer opened 20 new locations, which contributed to 4.7 million pounds of additional sales and continued to replace its stores fascias, which is due to be completed by FY17.

“Bonmarché’s performance for the year has been achieved amidst the difficult trading conditions widely reported across the retail sector,” commented Beth Butterwick, Chief Executive of Bonmarché. “We have emerged from this period with a clear focus on our five key strategic pillars for growth."

"With significant improvements for the benefits of our customer, we are focused on driving our modernisation plan over the coming year. We firmly believe that with its unique position as a niche retailer, focused on catering for the mature female demographic, Bonmarché is well placed for the future.”

Photos: Bonmarche, Facebook