// B&M posts a 13.5% rise in quarterly revenue representing “strong profitable trading momentum”
// Like-for-like sales in the UK were up 9.2% as both grocery and general merchandise categories performed “very well, driven by consistently strong and positive LFL transaction numbers”
B&M has posted a 13.5% rise in quarterly revenue which it said represented “strong profitable trading momentum” as shoppers continue to seek out bargains at the value retailer.
It saw like-to-like-sales in its UK arm rise 9.2% as both grocery and general merchandise categories performed “very well, driven by consistently strong and positive LFL transaction numbers”.
Revenues in its UK portfolio also reached more than £1bn, up from £957m in the same period last year.
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Total revenues were 11.3% higher in the 13 weeks to June 24 at £1.07bn, while sales in France, where it has about 100 stores, were up 29% to £117m.
B&M said in May that it expected core earnings for its 2023-24 financial year to be higher than the £573m of adjusted EBITDA it made last year while revealing plans to roll out an extra 30 stores across the UK to up keep demand.
The retailer‘s chief executive Alex Russo said: “Our strong trading momentum demonstrates the strength of our unchanged strategy to relentlessly focus on price, product and excellence in retail standards.”
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