B&M Posts Better Than Expected Half-Year Results

B&M European Value Retail S.A. ("the Group"), the UK's leading variety goods value retailer, today provides a trading update relating to its performance to date for the half year ending 25 September 2021 ("H1 FY22"). 

Whilst Group revenues year to date have been broadly in line with market expectations, gross margins have been stronger than originally anticipated in the B&M UK fascia business.

Performance of General Merchandise and Seasonal categories has been particularly encouraging. Sell-through rates in those categories have been high and accordingly end of season markdowns have been limited.

As a consequence, the Group now expects adjusted EBITDA¹ (on a pre-IFRS16 basis) for H1 FY22 (covering the 26 week period to 25 September 2021) to be in the range of £275m to £285m.  The analysts' consensus estimate² for H1 FY22 adjusted EBITDA¹ is currently approximately £235m.  

Although the Group is well positioned for the upcoming Golden Quarter, trading patterns and strength of customer demand remain highly uncertain for the balance of FY22.

The Group will provide further detail in its FY22 Interim Results on 11 November 2021.

Source : B&M

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