Home Bargains out to open more stores after profit tops £168m
Liverpool-based T J Morris, which runs nearly 450 Home Bargains stores across the UK, is planning up that number to 500 after increasing its pre-tax profits 22% to £168.2m.
Revenue for the year to June 30 also grew 17% from £1.6bn to nearly £1.9bn thanks to the opening of additional retail outlets during the period, shop re-sites and an increased contribution from existing stores, the company said.
The privately-owned firm launched by Tom Morris in 1980 also saw operating profit grow 23% from £137m to £168m.
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