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Bonmarché’s EBITDA jumps 50.6% to £13.7m in FY’14

June 13, 2014 (United Kingdom)

Bonmarché, one of the UK’s largest women’s value retailers, reports its preliminary results for the year ended 29 March 2014.
 
Financial Highlights:
-Revenue up 11.9% at £164.3m (2013: £146.8m)
-LFL sales growth of 10.4%
-EBITDA (before exceptional items) up 50.6% at £13.7m (2013: £9.1m)
-Profit before tax up 66.1% at £8.0m (2013: £4.8m)
-Pre-exceptional PBT up 85.3% at £11.2m (2013: £6.1m)
-Profit before tax margin up 1.6% at 4.9% (2013: 3.3%)
-Pre-exceptional PBT margin up 2.7% at 6.8% (2013: 4.1%)
-Post-exceptional adjusted earnings per share up 52.1% at 11.1p (2013: 7.3p)*
-Recommend final dividend of 2.1 pence per share
 
Operational Highlights:
Market share of women’s value sector increased by 14% from 2.8% to 3.2%
 
Good progress delivered against strategic objectives:
-Successful product and price enhancements
-Increased online penetration with sales up 84%
-Improved store estate: new refit concepts trialled in select existing stores, two successful relocations and exit from 1 non-strategic store
-Improved customer service 
-Successful garden centre trials and established roll-out plan for FY15
 
Beth Butterwick, Chief Executive Officer of Bonmarché, commented, “I am pleased with the strong financial performance in the period since the IPO. FY14 was the first full year of implementing our new Business Plan and we have made good progress in each of our key strategic areas: product, multi-channel, stores and our service proposition.
 
“We are confident that the successful execution of our forward growth strategy, combined with our established position as one of the largest pure-play value retailers dedicated to women over 50, will enable us to continue building on our appeal and accessibility to these customers and, in turn, deliver value for our shareholders.”
 

Bonmarché Holdings
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