Updates

B&M European Retail - Upgrades profit guidance

November 2020

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The shares leapt to a new high of 510p after B&M, the general merchandise value retailer, lifted first half adjusted EBITDA guidance from £250m-£270m (announced on 28 July) to around £285m before currency adjustments.This reflected a strong first half revenue growth of 25.3% with B&M UK stores growing 29.5% including 23% like-for-like. This was helped by like-for-like growth being maintained in Q2 at +19.1% while profit uplift was driven by an elevated average spend per visit. Nine B&M UK fascia stores opened in the period, offset by eight mainly older and smaller store closures. Guidance for gross new openings for the year has been raised to 40-45, most scheduled for the fourth quarter as Covid-19 has ...

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