(Alliance News) - B&M European Value Retail SA on Thursday reported strong momentum across its "golden" third quarter despite a challenging macroeconomic environment.
The retailer said revenue in the 13 weeks to December 24 was up 12% to GBP1.57 billion from GBP1.40 billion a year prior. In the UK, it rose by 10% to GBP1.30 billion from GBP1.18 billion, or 6.4% on a like-for-like basis. In France, it posted a stronger growth with revenue up 25% at GBP136 million from GBP109 million.
Heron Foods revenue was 23% higher year-on-year at GBP129 million from GBP105 million a year prior.
Further, it noted a very good performance across all B&M UK categories, both in grocery and general merchandise.
B&M European intends to declare special dividend of 20.0 pence per share, down 20% from 25.0p it paid during financial year 2022.
For the financial year ending in late March, adjusted earnings before interest, tax, depreciation and amortisation are now expected between GBP560 million to GBP580 million, coming above current analyst outlook consensus of GBP557 million. The anticipated adjusted Ebitda is a drop of at least 6.3% from GBP619 million in financial year 2022.
B&M European Value Retail shares were 1.7% higher at 452.60 pence each in London on Thursday morning.
By Tom Budszus, Alliance News reporter
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