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Bonmarche shares jump as it reports increase in online sales and profits

The firm said for the 52 weeks ended 31 March 2018, pre-tax profit jumped 38.1% to £8mln from £5.7mln, but total revenues fell to £186mln from £190.1mln

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Online sales increased 34.5%, driven by “multiple improvements to online customer experience and more effective marketing"

Bonmarche Holdings PLC (LON:BON) shares jumped on Tuesday as UK women’s value fashion retailer announced big leap in online sales and pre-tax profits, despite fall in revenues.

The firm said for the 52 weeks ended 31 March 2018, pre-tax profit jumped 38.1% to £8mln from £5.7mln, but total revenues fell to £186mln from £190.1mln.

READ: Bonmarche profit in line with expectations but Beast knocks sales

Online sales increased 34.5%, driven by “multiple improvements to online customer experience and more effective marketing,” while like-for-like store sales fell 4.5%.

Bonmarche said it recommends a final dividend of 5.25p per share, bringing the total for the financial year 2018 to 7.75p from 7.14p a year earlier.

Helen Connolly, chief executive of Bonmarche, said: “"Whilst we expect the market to remain difficult, trading since the beginning of the new financial year has been stronger than during the second half of financial year 2018, and is in line with the Board's expectations.”

She added: “We have a clear strategy in place to continue to improve our proposition, which we expect to do during financial year 2019 and beyond. We remain confident that with its unique offering, aimed at fashion and value conscious women, Bonmarché is well positioned for future growth."

In early morning trading, Bonmarche’s shares jumped 7.3% to 110.0p. 

Quick facts: Bonmarché Holdings plc

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LSE:BON
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