B&M EBITDA to exceed expectations
B&M has said it expects its adjusted to EBITDA to be in the range of £250 million to £270 million in the first half of its financial year.
This compares to analysts’ expectations of £208.1 million for the six month period ending 26 September.
The company had said on 1 July that it had made a strong start to the new financial year despite a high degree of economic uncertainty due to the Covid-19 pandemic. Group revenue in its first quarter increased by 27.7% to £1.15 billion after the retailer benefited from strong demand for DIY and gardening products.
In a trading update today, B&M said it is was well placed to continue to grow profitably in the UK and to develop its proposition in France. However, it declined to predict trading levels for the second half of the year due to the impact of Covid-19.
B&M is scheduled to give a more detailed update on first half trading on 12 November
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