Home Bargains’ full-year sales passed the £2.5bn milestone as the business ramps up for aggressive bricks-and-mortar expansion.
The homewares retailer’s pre-tax profit climbed 15% to £233.3m in the year to June 30, bolstered by a 15.2% uplift in turnover to £2.5bn.
The retailer opened 26 new stores during the year, taking its overall store estate to 506. Home Bargains said it aims to double this number to 1,000 in the coming years.
Staff numbers rose to 22,816 during the period, up from 20,313 the previous year.
Home Bargains paid out a £10m dividend off the back of the results, with the vast majority going to founder Tom Morris, who owns 95% of shares. The retailer did not pay a dividend last year, after paying out £40m in 2017.
The value retailer ended the financial year with £219m net cash, alongside over £500m worth of freehold property on its balance sheet.
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