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Turnover at Home Bargains exceeds 1bn

Turnover at Merseyside-based budget retailer Home Bargains has surpassed the £1bn mark.

Newly filed accounts for the national chain's owner TJ Morris demonstrate the company's impressive growth shows no signs of abating as pre-tax profit leapt past £110m.

The annual report, for the year to 30 June 2013, show sales rose from £914.8m to £1.05bn, a revenue rise of £675m over the past five years.

Operating profit increased year-on-year from £83.9m to £110.3m while pre-tax levels showed similar growth, from £84.1m to £110.8m.

Directors also shared £6.6m in dividends for 2012/13.

Home Bargains specialises in retailing household goods, toiletries and other essential items for the budget end of the market and operates in the region of 300 stores nationwide.

Notes accompanying the annual accounts said further retail outlets were planned during 2014.
It said the 16 per cent rise in revenue could be attributed to additional store openings, shop re-sites and growth within its existing estate while staff numbers during the period rose from 7,910 to 9,240.
Family-run TJ Morris was established 30 years ago by Tom Morris.

The company is working on a number of projects which will increase its employee numbers including the expansion of its head office at Gillmoss, which is expected to create about 150 new jobs,

It is planning to build a 284,000 sq ft development next to its HQ on Axis Business Park, comprising mainly warehouse and distribution space alongside offices and staff facilities, linked to its existing building via an overhead bridge.

The company opened a £35m warehouse and distribution centre in 2010 at its HQ where neighbouring tenants include Carcraft and DHL.

In the South West, it recently started work on a £70m regional distribution hub in Wiltshire which is expected to create up to 1,200 jobs.

The facility will support 400 new stores and is due to be operational by autumn 2015.

Source : Insider Media
www.insidermedia.com/insider/north-west/100561-home-bargains-passes-1bn-turnover-mark

14 October 2013
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