B&M posts strong trading in run-up to Christmas
B&M has seen its third quarter revenue increase by 12.3% year-on-year to £1.56 billion following strong trading in the run-up to Christmas.
In the 13 weeks to 24 December, total B&M UK fascia rose by 10.3% with one-year like-for-like revenue increasing by 6.4%. B&M said it was boosted by a strong performance across all UK categories in both grocery and general merchandise.
Meanwhile revenue at Heron Foods and its French business rose by 24.9% and and 22.5% respectively.
B&M is now expecting full year group adjusted EBITDA to be in the range of £560 million to £580 million, which is ahead of current analysts’ expectations.
Alex Russo, B&M chief executive, said: “Our strong momentum throughout the Golden Quarter across the businesses demonstrates the strength of our unchanged strategy to relentlessly focus on price, product and excellence in retail execution.
“Despite the challenging macroeconomic environment, we will continue to work hard to help both existing and new customers manage the cost-of-living crisis. The business has exited the quarter well and will remain focused on disciplined execution.”
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