// B&M revenue rises over 22% in January
// It expects adjusted EBITDA for the year to March 27, 2021 to be in the range of £590m to £620m
B&M has reported that its revenues have have remained strong in its fourth quarter to date, particularly in its UK business.
The discount retailer saw revenue rise by 22.5 per cent on a constant currency basis in its third quarter in January.
Due to the continued strong trading, the group now expects its adjusted EBITDA for the year to March 27, 2021 to be in the range of £590 million to £620 million, after the voluntary payment of business rates amounted to around £80 million.
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This compares to the previous range announced on January 7 of £540 million to £570 million.
“Group sales will shortly annualise against the elevated sales, driven initially by consumer stockpiling in mid-March 2020, and which continued throughout FY21 due to the ongoing impacts of Covid-19,” B&M said.
“This, together with the unknown impact of changes to restrictions in 2021, creates significant forecasting challenges which will persist well into the new financial year.
“Group sales will shortly annualise against the elevated sales, driven initially by consumer stockpiling in mid-March 2020, and which continued throughout FY21 due to the ongoing impacts of Covid-19.
“This, together with the unknown impact of changes to restrictions in 2021, creates significant forecasting challenges which will persist well into the new financial year.”
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