B&M reports strong growth driven by accelerated new store programme

B&M European Value Retail S.A. (“the Group”), the UK’s leading multi-price value retailer, today announces its interim results for the 26 weeks to 26 September 2015.

HIGHLIGHTS
● Group revenues have increased by 25.8% to £930.3m, +26.8% at constant currency
● 47 net new stores opened in the UK in the period, on track for 80 net new openings this financial year
● German business, Jawoll, opened 2 new stores in the period, with 3 more openings before Christmas
● UK Like-for-Like revenues +1.2%
● Group adjusted EBITDA increased by 18.6% to £86.6m
● Group adjusted Profit before Tax increased by 25.4% to £66.4m
● 2 new additional distribution centres opened in the UK by the end of September 2015 totalling 800,000 sq ft
● Interim dividend increased by 77.8% to 1.6p per share (FY15: interim dividend 0.9p) to be paid on 15 January 2016.

For the full publication and a management presentation please visit our Industry Articles page.

Sir Terry Leahy, Chairman, said,

"B&M has made good progress in the first half of the financial year towards its strategic goals of reaching at least 850 UK stores and creating a platform for longer term growth in Germany, whilst delivering further pleasing growth in sales, profits and cash generation. We are well prepared for the rest of the year and beyond."

Simon Arora, Chief Executive, said,

“Our unique retail model continues to deliver strong revenue growth as we extend our geographic footprint. In the UK, our teams have opened 47 new stores in just 26 weeks – a record rate of openings for B&M. The business is growing at an annualised rate of over £400m per year, which brings its own operational challenges. However, the investment made in our supply chain infrastructure and in other core functions will support the next stage of our expansion. Our colleagues have worked incredibly hard over the period and I am very proud of their continued achievements.”

Source : B&M Retail Press Release
www.bandmretail.com