Discount retailer B&M Retail has taken full advantage of the economic downturn by doubling its sales and profits last year.

The chain, which trades as B&M Bargains, notched up a 93.7% rise in pre-tax profits to £14.2m for the year to 31 December on sales up 97.1% to £255.8m, according to accounts at Companies House.

"The current property market presents attractive opportunities to expand store numbers," said director Simon Arora. Store numbers jumped from 49 to 89 during the year.

Since the year end B&M has already opened a further 28 stores.