Value clothing and home retailer Matalan has seen significant growth in sales during its third quarter and Christmas trading period.

Over the 13 week period ending 25th November, net profit rose by 27.9 to £44.9 million, while over the five-week period ending 30th December it grew 15.5 per cent to £22.3 million, as reported by Retail Gazette.

The company was hit by a 1.9 per cent dip in total revenue to £293.8 million in its third quarter period, but enjoyed a 7.3 per cent increase to £142.3 million during December. Online sales soared by 24.7 per cent while store sales rose by 6.2 per cent in December.

Full-price sales increased 2.6 per cent during both periods, showing that customers were interested in long-term value, not just short-term promotions.

Punchline says it's been a good year for the discounters and this is yet another example of the value retailers proving they've got what it takes to beat the likes of Marks & Spencer, which recorded disappointing Christmas results.