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Budget retailer B&M has revealed its "strong performance", announcing it is to open dozens of new stores by the end of the year.

The huge discount chain appears to be defying the high street gloom, and announced it will open 45 more stores across the country by the end of the financial year.

In a financial report issued on Wednesday, the Liverpool -based firm said it had opened 12 new B&M shops in the last quarter and relocated one.

B&M also said group revenue growth in the last quarter rose 21.4%, and that includes its convenience chain Heron Foods - which it announced will open between 15 and 20 new shops this financial year. That comes after its sales during the last quarter rose to £93.1m.

Simon Arora, Chief Executive, said: "The group has made a solid start and we are on track with our plans for the year as a whole, with a strong performance in the B&M º£½ÇÊÓƵ business and continued implementation of our planned change programmes in Germany and France, with a continued focus on resolving the warehousing and logistics challenges in Jawoll.

"B&M had its third consecutive record Easter trading period with sales of seasonal products and Homewares performing particularly well and Heron Foods has traded solidly too. The transitional changes to the product offers in Jawoll and Babou are now taking shape, as we apply the B&M model to those businesses. We look forward to the remainder of the year with confidence."

As part of the plans to open 45 new stores and increase B&M's high street presence, five will also be relocated, but it's not yet known where the new shops will be.

It will mean a wave of new jobs, including 60 at Breckland Retail Part in Norfolk, where a new store recently opened. BusinessLive reported yesterday that B&M was taking over the former Toys R Us site in Brislington, Bristol.