Bonmarché H1 revenue up 6.5 percent

Bonmarché, reporting its unaudited interim results for the 26 week period ended September 26, 2015 said that the total revenue increased 6.5 percent at 97 million pounds (147 million dollars). Store like-for-like (LFL) sales growth of 2 percent for H1 includes LFL growth of 6.1 percent in the second quarter, shows an improvement in LFL sales over the last three quarters.

“Bonmarché’s performance for the first half of the year has been satisfactory and we have made further progress against our strategic objectives. I am pleased with the improvement in store like-for-like sales, which is a testament to the value of our loyal customer base, in a market which remains challenging. Trading conditions during November have been challenging, due to very mild, wet weather. Our expectations for the full year remain unchanged, provided that trading conditions normalise for the remainder of the financial year,” said Beth Butterwick, Chief Executive of Bonmarché.

First half financial highlights

Profit before tax was 5.4 million pounds (8.1 million dollars), 6.4 million pounds (9.7 million dollars) on a pre-exceptional basis. Basic EPS was 8.4p and pre-exceptional basic EPS was 10.5p. The company announced an interim dividend of 2.5 pence per share.

During the period under review, the company appointed new Multi-channel and Marketing Director and strengthened teams in these areas. It also launched test TV advertising campaign to introduce Bonmarché to a wider audience and based on the cues from customer responses to David Emanuel ranges, the company continued the extension of contemporary handwriting across main BM ranges.

The company opened eight new solus stores and full year programme is under way to modernise stores with new branding; with an aim to refurbish at least 140 by the year-end.