B&M posts uplift in half year sales and profit
B&M has posted an increase in sales and profit in the first half of its financial year after trading was boosted by a rise in the average amount customers are spending when visiting its stores.
In the six months to 26 September, group revenue climbed by 25.3% as B&M UK stores generated revenue growth of 29.5% with like-for-like growth of 23%.
As a result, the retailer is expecting its group adjusted EBITDA pre-IFRS16 to come in at £285 million, which is above the previously guided range of £250 million to £270 million.
Simon Arora, B&M chief executive, said: “Our group has performed well in the first half. Our business model is proving well-attuned to the evolving needs of customers, given our combination of everyday value across a broad range of product categories being sold at convenient out-of-town locations.”
