B&M delivers 10% revenue growth
B&M has seen its full year sales rise by 10.1% to £5.5 billion as it continues its focus on delivering everyday low prices.
In the 53 weeks to 30 March, the group also benefited from an extra week of trading compared to the prior year and this year’s early Easter timing.
Fourth quarter like-for-like sales at B&M UK edged up 2.9% in the 14 weeks to 30 March. This was driven by strong volume performance across both FMCG and general merchandise. Looking at the full year, B&M UK like-for-like sales rose by 3.7% following increased customer transaction numbers.
The group opened 47 B&M UK gross new stores in the year, which was two ahead of previous guidance. B&M said the new shops are trading well, including the Wilko stores it acquired in the year, which are performing ahead of expectations
Meanwhile, B&M is expecting its full year group adjusted EBITDA (pre-IFRS 16) to come in at the top end of guidance at £629 million to mark a 9.8% increase on the prior year.
Alex Russo, chief executive, said: “The group has performed well in the year delivering strong operational execution. We serve our customers through a relentless focus on everyday low prices (EDLP), great product ranges and excellence in operational standards. This delivers profitable, cash generating growth for our shareholders.
“The business and team are well set up for the year ahead, our pipeline remains on track to open not less than 45 UK B&M stores in each of the next two financial years and our French and Heron businesses continue to demonstrate significant profitable growth potential.”
