Low-cost retailer B&M said it planned to add an extra 60 stores in the current financial year as its maiden set of financial results as a listed company showed adjusted pre-tax profits grew 56 per cent to £135 million in the year to March 28.

The Liverpool-based group, which floated last June, added 52 outlets in the period taking the total to 425 in the UK, as like-for-like sales rose 4.4 per cent.

Chairman Sir Terry Leahy, the former Tesco chief executive, said the results were "pleasing".