Discount retailer grows revenue towards £4bn

Discount retailer Home Bargains has reported a growth in sales and profit.

According to its latest filed accounts for the year ended 30 June 2023, total sales rose 10.2% to £3.7bn from £3.4bn in 2022.

Pre-tax profit resulted at £332.3m, up from £293.1m recorded in the previous year.

Stated within the report, parent company TJ Morris Limited, said the uptick was due to the opening of additional retail stores, shop re-sites and an increased contribution from existing stores.

At the year end, Home Bargains traded out of a total of 594 stores, with the company aiming to eventually operate between 800 and 1,000 retail sites in the future.

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