Bonmarche doubles profits in first half, warns of near-term uncertainty

Revenue grew to £97.8m from the £93.1m Bonmarche reported a year earlier thanks to level gross product margins and a 38.6% boost in online sales.

Pre-tax profits came in at £4.2m, more than double the £2m the value fashion chain had recorded twelve months earlier, and earnings per share increased from 3.1p to 6.8p.

However, Bonmarche warned, "we continue to face uncertainty as to future market conditions, particularly in the near term."

Earlier in November, UK retail sales showed the first year-on-year decline since 2013, and a survey by the British Retail Consortium showed an increased likelihood of a weak month of trading in October, with Bonmarche noting on Monday that "it has been widely reported that October was a difficult month for the clothing retail sector, and we were not immune from this".

While Helen Connolly, the group's chief executive, said she was "satisfied" with Bonmarche's turnaround progress, she pointed out "we are only at the beginning of the journey in some areas of our strategy and there is a strong plan to support future growth."

"I do not expect the clothing market to become any less challenging in the near future, and therefore remain focused on continuing to grow by profitably gaining market share," she added.

As of 1000 GMT, shares had jumped 15.45% to 102.75p.