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Home Bargains reports turnover increase of 15%

Home Bargains

Turnover has risen to almost £1.5bn at Liverpool-headquartered discount retailer TJ Morris, which trades as Home Bargains.

The company said that the rise was achieved through the contribution of additional retail outlets, shop re-sites and like-for-like growth from existing stores.

According to its latest set of accounts, TJ Morris posted a turnover of £1.47bn in the year ending 30 June 2015, up by 15 per cent year on year. All of the turnover was generated in the UK.

Pre-tax profits increased by 18 per cent to £147.1m over the same period and operating profits climbed by 18 per cent to £146.7m.

In their report accompanying the accounts, the directors said: "The company achieved an increase in turnover from £1.28bn to £1.47bn, a percentage increase of some 15 per cent. This was achieved from the contribution of additional retail outlets opened during the year, shop re-sites and like-for-like growth from existing stores. Operating profit increased by £22m from £124m in 2014 to £146m.

They added: "The company intends to increase the number of retail outlets in operation to approximately 420 in the year ended 30 June 2016. The intention is to have approximately 700 retail outlets open within the next five years."

TJ Morris was founded by entrepreneur Tom Morris in 1976. The business is based at Axis Business Park in Gilmoss.

Source : Richard Frost – Insider Media

19 October 2015

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