B&M books 8.3% rise in revenue

B&M update

B&M has reported an 8.3 per cent rise in revenue growth in its core British market for the first quarter, thanks to strong sales of gardening and outdoor leisure ranges.

For the period ending June 30, the retailer’s like-for-like sales in the UK rose 1.6 per cent.

It said the results came about despite it being a period that did not benefit from the whole of the Easter holiday as it did in 2017.

Meanwhile, total revenue for parent company B&M European Value Retail – which operates the Heron Food convenience stores it acquired last year and German retailer Jawoll – went up by 21.4 per cent at constant currency to £796.3 million.

B&M maintained it was confident about its outlook for the remainder of the year.

“The business has performed strongly in the quarter despite demanding comparables of seven per cent like-for-likes in the previous year and a sluggish market environment,” chief executive Simon Arora said.

“Our competitively priced ranges for garden and outdoor leisure have been very well received and they are achieving great rates of sell-through.

“We have enjoyed record sales in these seasonal product categories, which is a testament to the appeal of our highly disruptive business model.”

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