Home Bargains owner takes home over £1bn in dividends
According to new filings on Companies House, it comes as Home Bargains’ turnover increased by 11.7% from £3.76bn to £4.20bn in the 12 months ended 30 June 2024
The billionaire owner of Home Bargains has paid himself more than £1bn in dividends after the discount retailer welcomed rising sales and profits in its latest full-year results.Tom Morris, who owns 98% of parent company TJ Morris, received the majority of the £1.22bn in available ordinary dividends and asset distributions for the period.
According to new filings on Companies House, it comes as Home Bargains’ turnover increased by 11.7% from £3.76bn to £4.20bn in the 12 months ended 30 June 2024.
This was driven by the opening of new retail sites during the year, as well as shop re-sites and contributions from existing stores.
Meanwhile, operating profit soared by 34.2% from £324m to £434m over the period.
Looking ahead, the company said it plans to increase its number of retail outlets in the coming year, with plans to eventually have between 800 and 1,000 open.
