Buoyant B&M to hand staff extra week’s pay

Strong festive sales will see a retailer reward staff with an extra week’s pay – while the owner pockets a £30 million dividend.

The founder and chief executive of B&M Bargains has handed himself another massive payout.

Simon Arora revealed a new special dividend of 20p- a- share would be handed out to shareholders.

The boss and his family are the biggest shareholders in the business. The new £30m reward is in addition to a £44m dividend payout two months ago.

B&M will also share some of the profits with staff by paying its 30,000 workers an extra week’s wages.

The discounter operates in Dundee, Forfar, Leven, Glenrothes, Kirkcaldy, Cowdenbeath and Dunfermline.

Sales in UK stores in the 13 weeks to December 26 soared 26.6% on a l i ke - f o r - l i ke basis to £1.4 billion.

Mr Arora said: “Our trading performance is testament to the hard work and commitment of all our colleagues, to whom I express my sincere thanks.

“We are awarding some 30,000 store and distribution colleagues an extra week’s wages in recognition of their considerable efforts.”

The company opened 18 new stores and closed two during the period,

B&M is constructing a new store in Crieff.

It has also been announced as the anchor tenant for an £8m retail park de velopment in Cupar.

It is also planning a return to Perth after its previous store was destroyed by a fire in 2019 and is eyeing up opening in Arbroath.

The B&M shop at Kingsway Retail Park in Dundee.