WE’RE NOT INTERESTED IN BIG DEALS, SAYS B&M

B&M Bargains’ boss has dismissed rumours the firm is seeking to bulk up through takeovers.

Simon Arora ( pictured) said the value retailer does not need to do mergers and acquisitions for growth. His comments come after speculation that B&M could try to buy a rival high street chain.

Asda was among those in the frame with analysts predicting B&M could launch a reverse takeover of its larger competitor.

But despite the two businesses being similar in some respects – such as their focus on discounting – Arora, 49, said B&M was busy with other matters, chiefly its expansion.

He added: ‘We only had 620 stores in the UK against a target of 950. We opened 50 last year so at that rate we’ve got six years of growth.’

Profit rose 8.7pc to £249.4m in the 52 weeks to March 30, while revenues rose 17.1pc to £3.5bn. B&M also said it would push ahead on bringing its model to the French and German markets over the next two years.