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It’s not everyday you get a company with excellent results allowing you to buy in at all year lows. If there were red flags you’d understand, but it’s just a simple case of old buyers out and new buyers in. Can easily see a 10% bounce by month end.
Enjoy the ride and accumulate as much as you can.
Agree, the company is doing really well and the drop as if it issued a profit warning ha
Adjusted EBITDA totalled £629m in the year to 25 March, up 10.9% on the year before, helped by higher volumes and strong cost control. This was at the top end of the company's forecast of £620m to £630m.
Group revenues rose by 10.1% to £5.5bn, helped by the opening of 78 gross new stores across the group, with 19.2% growth in B&M France, 15.3% in Heron Foods and 8.5% in B&M UK.
Alex Russo, Chief Executive, said,
"FY24 has been another good year for B&M. The three key components of our business - buying, logistics and retail, are working in balance and we continue to deliver excellent products at everyday low prices to our consumers. We are well set for the years ahead.
During Q4, we accelerated our opening programme, and the step up in openings is continuing. In FY25, we will open not less than 45 gross new B&M stores in the UK, plus a meaningful number in France and for Heron. We have also raised our long-term store target to not less than 1,200 B&M UK stores, which provides a clear runway of profitable growth ahead for us, from our current base of 741 B&M UK stores.
We have demonstrated strong volume-led momentum in our business throughout our trading history and that has continued, driving our profits ahead of both pandemic and pre-pandemic benchmarks. Despite the more challenging comparatives, with continued new store openings, and a laser focus on low prices and best in class retail standards, we remain confident in our outlook for cash generation and profit growth."
E-AL. Yes time to take a calculated risk and hopefully after Xdividend or just before they might go up.
Yes, the previous lowest point was 492 a few months ago. That being said, I just saw a chart on Twitter, the SP has just hit multiple support levels from the yearly, weekly, and daily charts, so it will likely bounce back up soon.
If this goes any lower it will be lowest for this year.
As it falls tracker have to sell so it drops even mor.
So too do Goldman
Goldman Sachs cuts B&M European Value Retail price target to 600 (640) pence - 'buy'
and they are the "Shop" to them so it virtually has to be a 'buy'.
At the same time - Goldman Sachs cuts BME price target 600 from 640 but still as a buy
0.25%
Hopefully that's the start of them.
Although nobody has ever proved this point, to my knowledge, broker recommendations seem to run on some sort of rota where x says sell causing a sp fall only for y to later say buy causing the sp to rise. If investors knew in advance what had been planned they could make a lot of money. Now which bank is about the richest in the world?
Well, if J P Morgan's price forecast is right it is hardly worth selling at this price (471p versus 497p, just over 5% downside). Pure speculation, I bought 1,000 shares this morning before 9 a.m. at 496.67p. Never owned the shares before but on less than an hour's research I smell a bounce back above £5. I will cut my loss if it falls to 481p. Don't follow me on this, I get only a fraction more right than I get wrong!
I have bought another £3k this morning at a Bargain Price. Maybe the shares should be on sale in the company shops?
JPMorgan cuts B&M European Value Retail price target to 471 (585) pence - 'underwei.
They have been incorrectly previously. Let's hope it is same this time
E_AL - They are not necessarily buy. Could be cancelled trades
2 more chunky buys just gone through at premium:
16:19:29 542.00 249,750 £1m
16:19:28 542.00 249,750 £1m
IMO tomorrow opens up 4%
Dropped nearly 40p today, only been watching these for the last couple of weeks, decided to buy a 1000…only because I dip in and dip out…no other justification for buying them…only being honest, but I think there is a few quid in them…
Thought it was the 6th today doh!!
Not today: Thursday, 6th of June 12.15 pm GMT ECB Main Refinancing Rate, Policy Statement (EU) The European Central Bank's interest rate decision and policy statement are to be revealed.
Indeed - in an hour I think. It’ll be interesting to hear the press conf. I suspect careful words and nothing the markets will pin their hats on
XxxAccountant - ECB rate cut already accounted for. It is what they will say the future direction
Looks like the conference went well, lots of buys coming in. Could finish blue today.
ECB rate decision could also give markets a lift. Wouldn’t be surprised to see us at £5.50 today
I still believe that this drop is unjustified. So, I bought another 1 and half K shares at 512.2, 4K in total (2 and half K bought earlier).
Now, let's wait and see the rebound. Good luck to all and have a nice day.🤞🤞💪💪
Travenhame After 0930 SP dropped even more. Are the answers not satisfied the market or are they trying to shake small shareholders and buy.
A nice chunky buy just gone through !
10:20:10 512.20 250,000 £1m