Strong trading for B&M
Retail chain B&M European Value Retail enjoyed strong trading in the third quarter of its financial year.
In the 13 weeks to Christmas Eve revenue grew 12.3 per cent year-on-year to £1.56 billion.
There was a very good performance across all B&M UK categories, both in grocery and general merchandise.
Group adjusted earnings before tax for the year is now expected to be in the range of £560 million to £580m, ahead of current analysts' consensus estimate of £557m.
The board intends to declare a special dividend of 20p per ordinary share to be paid on February 23 to shareholders on the register at January 13.
Chief executive Alex Russo said: "Our strong momentum throughout the Golden Quarter across the businesses demonstrates the strength of our unchanged strategy to relentlessly focus on price, product and excellence in retail execution. Despite the challenging macroeconomic environment, we will continue to work hard to help both existing and new customers manage the cost-of-living crisis. The business has exited the quarter well and will remain focused on disciplined execution."
B&M now has 705 UK stores, including many in the West Midlands, out of a total of 1,133 including 315 Heron Foods sites.
