Value variety retail chain Boyes posted strong top and bottom line growth as it took its store network past the half century mark in the year to end January.

The firm opened five new stores to reach 53 units as it grew sales by 6 per cent to £74.4m, with the privately owned retailer since opening another at Acomb to bring the total to 54.

All Boyes stores — which sell a vast array of diversified merchandise including furniture and furnishings — are based in the Northern and Eastern counties of England.

Profits at the chain grew 14 per cent to £5.5m, with the business generating a net £4.9m cash from operations, nearly all of which it reinvested, and ended the year with net funds of £6.3m (2014: £6m).