B&M Retail posted double-digit increases in sales and profits for 2012 to continue its staggering growth.

The high-street variety discounter, in which private equity firm Clayton Dubilier & Rice took a majority stake last December, posted a 43% increase in pre-tax profits to £90.6m on sales up 31.5% to £937.2m in the year to 31 December 2012.

Its sparkling performance last year continues a rich vein of form for the Liverpool-based retailer, which trades as B&M Bargains, following sales growth of 17.4% in 2011 and 43% in 2010. Analysis by The Grocer for the Top 50 survey of independent grocery retailers shows B&M has achieved a compound annual growth rate of 45.16% since 2005.

B&M also continued its store expansion on Britain’s high streets, with its estate increasing 16.3% from 271 to 324 sites. It also created 2,556 new jobs, taking the number of staff on its books to 11,420.

In December, CD&R said it planned to accelerate B&M’s growth by widening its market presence outside the UK. Its rivals Poundland and 99p Stores already have stores in Ireland.

“We believe the value-based general merchandise retail model could have significant appeal in overseas markets,” CD&R partner David Novak said at the time.

CD&R also appointed former Tesco CEO Sir Terry Leahy as chairman.

CD&R’s stake means B&M no longer qualifies for The Grocer Top 50 as companies need to be at least 50%-owned by management or family.