Leahy’s bow­ing out in style

Daily Express - - CITY & BUSINESS -

SIR Terry Leahy is check­ing out as chair­man of B&M af­ter five years in which he steered the dis­count re­tailer on to the stock mar­ket and over­saw rapid ex­pan­sion.

The ex-Tesco boss will be suc­ceeded next March by Peter Bam­ford, who chairs Su­perdry fash­ion brand owner Su­per­Group. B&M’s shares have risen by more than 40 per cent since its float in June 2014. Pre-tax profit is up from about £83 mil­lion to £204 mil­lion, with sales up from £993mil­lion to £2.67bil­lion as stores in­creased from 331 to 893. Leahy said: “It has been a great priv­i­lege to have been part of one of the most ex­cit­ing re­tail growth sto­ries of the past decade.”

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