Bonmarché reports H1 revenue rise of 11.8 percent

Bonmarché announcing its interim results for the 26 week period ended September 27, 2014 said that its total revenues went up 11.8 percent at 91.1 million pounds (142.7 million dollars). Like-for-like sales at its stores increased 7.8 percent, whereas profit before tax of 6.4 million pounds (10 million dollars) increased 68.1 percent representing a growth of 15 percent on underlying basis.

Profit before tax margin increased from 4.7 percent to 7 percent or 6.8 percent to 7 percent on an underlying basis. Earnings per share were 9.9 pence. The company announced an interim dividend of 2.3 pence per share. Company witnessed good progress with continued developments in product, pricing and supply chain. Online sales penetration was 7.2 percent of total sales for the six months, up from 5.3 percent for comparative period last year.

The company is looking forward to four new stores and relocate nine to other locations in FY15. Commenting on the development, Beth Butterwick, Chief Executive Officer of Bonmarché, 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.”