B&M European Value Retail S.A. (B&M) is a general merchandise discount retailer in the United Kingdom, Scotland, Wales and Northern Ireland.B&M also has 49 stores in Germany, after having recently acquired an 80 per cent stake in Jawoll, a variety goods retailer based in the country's north west.
. B&M stores offer a broad range of grocery and non-grocery products across a wide range of price points. B&M stores product offering consists of Grocery products and Non-grocery products. The Company’s grocery products are branded fast moving consumer goods (FMCG) products, which include household consumables, such as cleaning supplies, health and beauty products, confectionery, drinks and ambient food products. Non-grocery products include household textiles, homewares, furniture, toys, seasonal goods, electrical goods and clothing. This includes seasonal merchandise for Christmas, Halloween, Easter, Valentine’s Day and the back to school period, along with seasonal winter and summer products.B&M European Value Retail SA trades from 400 stores with stores located across the UK with a range of High Street and Out of Town Locations. It enjoys some 150 million shopper visits per year and introduce some 50 new lines every week. Employs over 19,000 staff.


http://www.bmstores.co.uk/about-bandm-stores

Share tips: 'This company could be the next Aldi or Lidl'

Katie Morley talks to the manager of the Mercantile Investment Trust about the stocks he's backing. One has the potential to triple in size in three years and become the next Lidl




http://www.telegraph.co.uk/finance/personalfinance/investing/funds/11231411/Share-tips-This-company-could-be-the-next-Aldi-or-Lidl.html

Interim Management Statement

RNS


RNS Number : 4099N

B&M European Value Retail S.A.

28 July 2014








28th July, 2014



B&M European Value Retail SA



Interim Management Statement



Strong Q1 Trading in Line with Expectations





B&M European Value Retail SA ("the Group"), the UK's leading multi-price value retailer, today announces its interim management statement relating to the period from 30 March 2014 to 27 July 2014,with trading numbers up until 28th June 2014.



Current Trading Update



Group sales for the 13 weeks ending 28 June 2014 increased by 31.9% (2013: 34.1%) to

£367.0m (2013: £278.2m). [1]



The UK business sales for the 13 week period increased by 22.6% to £341.2m (2013: £278.2m) with like-for-like sales growth of 6.0% on top of a strong quarter last year (2013: +7.3%).



The UK business has continued to grow sales well reflecting a strong like-for-like performance and the new store opening programme, with a net seven new stores opened in the quarter as planned.



Financial Position and Outlook



The Group's financial position remains sound. All guidance for the full year remains unchanged from the time of the IPO.





Simon Arora, Chief Executive, said,



"The Group's first quarter trading performance has been a strong one, demonstrating the continued popularity of our unique offer. Our like-for-like performance was driven by our strong product offering, growth in the average customer transaction value and the late Easter.



Our hard working teams are focused on delivering our important Autumn Winter season and our on-going new store programme. The management team of JA Woll has made good progress on accessing the Group's Far East supply base for its 2015 ranges".





[1] Sales from JA Woll, which was acquired on 30 April 2014 are included in the current period figures but not for the prior year.




=====================================================

17 Nov Credit Suisse 330.00 Outperform
17 Nov Deutsche Bank 290.00 Buy
7 Nov Citigroup 310.00 Buy
3 Nov Numis 280.00 Add

Half Yearly Report

B&M European Value Retail S.A. ("the Group"), the UK's leading multi-price value retailer, today announces its interim results for the 26 weeks to 27 September 2014.



HIGHLIGHTS



● Group revenues have increased by 29.7% to £739.8m

● UK like-for-like revenues +4.8%

● Gross Margin improved by 80 basis points to 34.7%

● Group adjusted EBITDA increased by 34.0% to £73.0m

● 20 net new stores opened in the period, our 400th UK store was opened in October 2014

● Strong pipeline of further new stores, and on track for at least 50 net new openings this financial year

● Integration of Jawoll Germany proceeding to plan

● Interim dividend of 0.9p per share to be paid on 16 January 2015



http://www.moneyam.com/action/news/showArticle?id=4925110

18 Nov Credit Suisse 330.00 Outperform
18 Nov Numis 310.00 Add

19 Nov Numis 310.00 Add
19 Nov Citigroup 310.00 Buy
19 Nov Jefferies... 350.00 Buy
19 Nov Credit Suisse 340.00 Outperform
19 Nov Deutsche Bank 290.00 Buy

Former Tesco boss Leahy plans to double stores of bargain chain B&M in latest discount blow to Big Four supermarkets
B&M aims to double number of UK shops from the current 400 to 850
It expects to create 2,500 jobs and add a total of 50 shops by April
It is in talks with the owner of Homebase to buy stores being auctioned

By City & Finance Reporter for the Daily Mail and Camilla Canocchi for Thisismoney.co.uk

Published: 01:06, 19 November 2014 | Updated: 16:26, 19 November 2014



http://www.dailymail.co.uk/money/markets/article-2839615/Discount-chain-B-M-holds-talks-owner-Homebase-buy-surplus-stores-auctioned.html

------------------------------------------------------------------------------------------------


MORNING MEETING: Discount chain B&M set for national stage

SEEING the number of shutters coming down and charity shops opening up it is easy to think Britain's high streets are in terminal decline.



By: Peter Cunliffe
Published: Wed, November 19, 2014

While Woolworths and Comet go down, discount chains are on the rise on our high streets


The ambitious expansion plans unveiled by B&M yesterday are a welcome antidote to the idea that bricks–and–mortar shops will inevitably disappear under the onslaught of online shopping.

There is no denying retailing is going through the toughest period in living memory but high streets have managed to survive hundreds of years of change by showing an amazing ability to adapt. While the likes of Woolworths, Comet and Phones 4U have gone to the great closing down sale in the sky, discount retailers are filling the gap.

B&M has been among the most successful but it has not attracted the publicity of the discount supermarkets or £1 shops.

That is about to change as it goes national and by the end of the decade I predict its name will be as familiar as Woolworths used to be.

Ex dividend Thurs 4 dec 0.9p

11 Dec Citigroup 310.00 Buy

B&M One of the Expresses stocks for 2015.

Hurdles on the way include the ­general election and the struggling eurozone so against that background we have gone for stocks which should ride out any ups and downs.

Discount store chain B&M European Value Retail (285p) chaired by former Tesco boss Sir Terry Leahy has a strong sales growth track record and sees scope to double in size.

12 Jan Citigroup 310.00 Buy

B&M European Value Retail SA (BME:LSE) set a new 52-week high during today's trading session when it reached 306.00. Over this period, the share price is up 7.37%.

Poundland vs. B&M

January 14, 2015 5:10 pm by Ken Odeluga


http://www.cityindex.co.uk/market-analysis/market-predictions-2015/36163782015/ken-odeluga-bp-leads-sunken-oil-john-wood-bests-cornered-oil-services-poundland-vs-bm/


Poundland vs. B&M, who?

Investing in the UK low-cost segment is not straightforward.

There are few listed players, with Poundland Group Plc. the most prominent. I think Poundland makes a strong case as a play on the low-cost UK supermarket segment, with half-year earnings

in November jumping 11.7% to £9.3m for the 26 weeks to 28th September against the comparative period, and like-for-like sales up 4.7% on a constant-currency basis.

This needs to be balanced against its poor forward yield of 1.5% and the overall sense that it lacks the focus, canniness and aggression of the near-notorious Aldi and Lidl (which are unlisted.)

On that basis, it looks like there is a better opportunity than Poundland, in a relatively overlooked listed UK rival.

Market forecasts expect London-listed small cap B&M European Value Retail SA to grow marginally faster than Poundland: consensus forward PE of 27.65 vs. 25.87 for Poundland.

Shares of the latter have so far failed to build up steam from the highs on their IPO day: 401p, on 12th March 2014 and they’re currently 15% lower at 342p.

Poundland stock seems to be ‘on watch’ with investors in this segment, due to its stronger-than-average weighting to UK consumer strength, competition against established value-end non-food and food (Morrisons and ASDA), and of course Aldi and Lidl.

It’s most direct rival is N. Brown Group Plc., and whilst the market expects Poundland to grow faster than N. Brown, we suspect the investment case is edged by the much more sophisticated multi-channel discount operator B&M, chaired by former Tesco CEO Terry Leahy.

For the moment we need to take Poundland at its word, after it said in November its performance for the full-year was “dependent on delivering a good Christmas”. Its next earnings report has yet to be scheduled.

At the same time consensus forecasts place B&M net income for 2015 at £102.85m, against £33.5m for Poundland, possibly evidence of the former’s purchase of a majority stake in Germany’s JA Woll discount chain last year.

There’s evidence of contradiction here: although neither B&M nor Poundland currently yield a value comparable to the market average, the expected price-to-earnings gradient of B&M sharply lags its rival by 23%.

At the same time, B&M current enterprise value over sales would provide much for the group to grow into (and I think it’s very likely to) with a near 150% premium against Poundland’s.

The balance is that for this fledgling low-cost segment, which is very likely to be the retailing mainstream of the future, for now I opt for B&M Value.

Trading Update

Group sales for the 13 weeks ending 27 December 2014 increased by 28.8% (2013: 26.4%) to £527.9m (2013: £409.9m).[1]



The UK business sales for the 13 week period increased by 20.5% to £493.8m (2013: £409.9m) with like-for-like sales growth of +4.5% on top of a strong quarter the previous year (2013: +6.2%).





http://www.moneyam.com/action/news/showArticle?id=4963827

B&M European Value Retail SA (BME:LSE) set a new 52-week high during Friday's trading session when it reached 326.25. Over this period, the share price is up 8.07%.

23 Jan Numis 350.00 Add
23 Jan Canaccord... 285.00 Hold

Jingle tills at B&M as shares hit new high

SHARES in discount store chain B&M hit a high yesterday as festive trading got a boost from savvy shoppers seeking gifts and decorations.


Published: 12:14, Sat, January 24, 2015






Ex-Tesco boss Sir Terry Leahy is the head of B&M


The £3billion company, chaired by former Tesco boss Sir Terry Leahy, lifted sales at its 417 UK stores by a fifth to £493.8million in the three months to December 27.

Chief executive Simon Arora said: “We believe we are becoming a destination store for these important seasonal categories.”

Like-for-like turnover was up 4.5 per cent, slower than the 6.2 per cent of the previous year.

It opened 24 new stores over the period and is on course to trade from at least 50 additional stores in the UK this financial year. At least 45 new stores are earmarked for next year.

B&M, whose shares were worth 270p when it floated last June, rose 6p to 308p.




http://www.express.co.uk/finance/city/553998/Shares-discount-store-chain-B-M-new-high-following-Christmas

27 Jan Credit Suisse 366.00 Outperform

2 Feb Jefferies... 350.00 Buy

Result of placing in B&M European Value Retail S.A
RNS
RNS Number : 9694D
BofA Merrill Lynch
04 February 2015


4 February 2015

PLACING OF 120,000,000 ORDINARY SHARES IN B&M EUROPEAN VALUE RETAIL S.A. ("B&M") BY CD&R EUROPEAN VALUE RETAIL INVESTMENT S.À R.L. ("CD&R")

CD&R announce that they have sold an aggregate of 120,000,000 ordinary shares (the "Placing Shares") in B&M, representing approximately 12% of B&M's issued ordinary share capital, at a price of 320 pence per share (the "Placing") raising aggregate gross sale proceeds of £384m. Following its announcement released on 3 February 2015, CD&R decided to increase the placement of shares in B&M from 100,000,000 shares to 120,000,000 shares due to strong investor demand

Following settlement of the Placing, which is expected to take place on 6 February 2015, CD&R will continue to hold approximately 17.4% of B&M's ordinary shares.

As a result of the Placing, it is anticipated that the free float of B&M will be above 50%, satisfying one of the conditions for inclusion into the FTSE UK Index Series, which includes FTSE 100, FTSE 250 and FTSE All Share indices.

Merrill Lynch International ("BofA Merrill Lynch") and Deutsche Bank AG, London Branch ("Deutsche Bank") acted as Joint Bookrunners in connection with the Placing. Lazard & Co., Limited ("Lazard") acted as financial adviser to CD&R in connection with the Placing.

B&M private equity owner lands £384m after cutting stake

Clayton Dubilier & Rice slashes stake in discount chain chaired by Terry Leahy, making it eligible for FTSE 250 inclusion

http://www.telegraph.co.uk/finance/11389503/BandM-private-equity-owner-lands-84m-after-cutting-stake.html

/////////////////////////////////////////////////////////////////////////////////////////////////

Private equity cashes in on B&M as former Tesco boss Leahy takes advantage of tax haven

http://www.thisismoney.co.uk/money/markets/article-2940151/Private-equity-cashes-B-M-former-Tesco-boss-Leahy-takes-advantage-tax-haven.html

Holding(s) in Company

Holdings by CG Management Companies and Funds: 52,140,113 5.214%

● Capital Research and Management Company

●EuroPacific Growth Fund




http://www.moneyam.com/action/news/showArticle?id=4973481

RUTH SUNDERLAND: Taxing questions for former Tesco boss Sir Terry Leahy as he takes leading role at B&M




http://www.dailymail.co.uk/money/comment/article-2943240/RUTH-SUNDERLAND-Taxing-questions-former-Tesco-boss-Sir-Terry-Leahy-takes-leading-role-B-M.html

17 Feb Nomura 280.00 Neutral

18 Mar Deutsche Bank 325.00 Buy

Preliminary results


HIGHLIGHTS



● Group revenues increased by +29.5% to £1,646.8m (2014: £1,272.0m);

● UK like-for-like sales +4.4% (2014: +6.5%)

● Group adjusted EBITDA increased by 33.6% to £174.2m (2014: £130.4m)

● Group EBITDA increased by 33.3% to £150.2m (2014: £112.7m)

● Adjusted profit before tax increased by 55.7% to £135.0m (2014: £86.7m)

● Adjusted diluted earnings per share 10.3p (2014: 6.9p)

● Diluted earnings per share 3.4p (2014: -1.9p)

● 52 net new stores opened in the UK in the period

● Strong pipeline of further new stores, and revised guidance of 60 net new openings expected for the 2016 financial year

● Integration of Jawoll proceeding to plan with increased direct sourcing and one new format pilot store opened in the period

● Operating cashflow £152.9m (2014: £114.7m)

● Net debt reduced to £381m from £432.8m in 2014

● Recommended final dividend of 2.5p per share to be paid on 7 August 2015 (pro rata total dividend for the year 3.4p)

B&M: Deutsche Bank reiterates buy and lifts target to 350p.

12 Jun Nomura 370.00 Buy
12 Jun Credit Suisse 390.00 Outperform

B&M European Value Retail S.A. will release its Trading Update for the 13 weeks to 27 June 2015 on Friday 17th July 2015, ahead of its AGM on Thursday 30th July 2015.

13 Jul RBC Capital... N/A Outperform
13 Jul Nomura N/A Buy
13 Jul Deutsche Bank 350.00 Buy

Trading statement

Group sales revenue for the 13 weeks ending 27 June 2015 increased by 25.3% (2014: 31.9%) on a constant currency basis. On an actual currency basis, total sales revenue increased by 24.4% (2014: 31.9%) to £456.6m (2014: £367.0m)



The UK business' sales revenue for the 13 week period increased by 22.8% to £418.8m (2014: £341.2m) with like-for-like sales growth of +1.1%.

Sales-slowdown-cheap-cheerful-chain-labelled-new-Woolworths-fails-halt-growth-ambitions.

13 Dec
Peel Hunt
440.00
Buy

14:00 14/12/2016
Broker Forecast - Canaccord Genuity issues a broker note on B&M European Value Retail
Canaccord Genuity today upgrades its investment rating on B&M European Value Retail (LON:BME) to buy (from hold) and raised its price target to 295p (from 265p). Story provided by StockMarketWire.com

(ShareCast News) - B&M European Value Retail's shares received a boost on Wednesday after Canaccord Genuity raised its rating on the stock to 'buy' from 'hold' and lifted the target price to 295p from 265p.
Canaccord said it remains positive on the variety retailer's UK prospects and is "sanguine" on concerns about the retail market following Brexit's impact on the sterling.

The broker believes B&M is well-equipped to negate market worries.

"Its growing international buying scale should mitigate the impact of weaker sterling on input prices and gross margins," Canaccord said.

"With all retailers exposed to foreign exchange weakness, an inflationary environment actually serves to increase B&M's price differential and so enhance its value credentials."

B&M has grown its business internationally with the expansion of its German retailer Jawoll, purchased in 2014.

Canaccord expects Jawoll will open about 400 stores in Germany, generating more than €1.1bn in turnover and €120m in earnings before interest, tax, depreciation and amortisation (EBITDA) at maturity based on an average sales performance and EBITDA margin.

Canaccord also sees B&M continuing to grow market share in the Value sector in the UK on the back of plans to open about 50 stores per year. The broker pointed to Verdict forecasts for growth in spending at discounters and budget retailers of 35% to £25.6bn between 2015 and 2020.

3 Jan
Deutsche Bank
300.00
Buy

Trading statement

Highlights
 
● Group revenue growth in the quarter of 20.5% at constant currency, including a 7.2% rise in UK like-for-like revenues
● Strong operational and financial performance through the peak trading period, including good Christmas seasonal sell-through
● Management is confident that the Group will meet market expectations for Adjusted EBITDA in the financial year to March 2017
 

4 Jan
Investec
355.00
Buy
4 Jan
Numis
350.00
Buy
4 Jan
Peel Hunt
440.00
Buy
4 Jan
Liberum Capital
330.00
Buy

5 Jan
Deutsche Bank
330.00
Buy
5 Jan
HSBC
350.00
Buy
5 Jan
Citigroup
N/A
Buy
5 Jan
Jefferies...
335.00
Buy
5 Jan
Peel Hunt
440.00
Buy
5 Jan
Haitong...
190.00
Sell

B&M European: Deutsche Bank reiterates buy with a 330p target.

09:20 10/05/2017
Broker Forecast - Citigroup issues a broker note on B&M European Value Retail
Citigroup today reaffirms its buy investment rating on B&M European Value Retail (LON:BME) and set its price target at 390p. Story provided by StockMarketWire.com
11:10 09/05/2017
Broker Forecast - HSBC issues a broker note on B&M European Value Retail
HSBC today reaffirms its buy investment rating on B&M European Value Retail (LON:BME) and raised its price target to 400p (from 350p). Story provided by StockMarketWire.com

12 May
Peel Hunt
440.00
Buy

Market buzz - Thursday - Discount retailer B&M European Value will roll up the shutters on its full year results, with the fourth quarter being the least weighty historically. Barclays expects a healthy set of results from B&M, projecting full year sales growth of 18.4%, 17.3% growth in underlying EBITDA and looking out for 2018 guidance, both financial and in terms of store expansion as B&M grapples with its attempts to get into the more affluent South-East.

Preliminary results

HIGHLIGHTS
 
Business highlights
● 53 new stores opened in the UK, including 9 relocations to large, modern Homestores, and 19 new stores in Germany
● Strong pipeline of 40-50 new stores planned in the UK and a further 15 in Germany this financial year
● Revised UK store target from 850 to at least 950 stores
● New warehouse capacity in both the UK and Germany now working efficiently
● Delivery of consistent in-store retail standards, strong product offering and great value for money supporting trading momentum
 
Financial overview
● Group revenues increased by +19.4% to £2,430.7m (2016: £2,035.3m)
● UK full year like-for-like sales¹ +3.1% (2016: + 0.9%), including Q4 like-for-like sales +2.9% and an excellent start to 2018
● Group Adjusted EBITDA³ increased by 22.0% to £234.9m (2016: £192.5m)
● Group EBITDA² increased by 18.1% to £231.5m (2016: £196.1m)
● Adjusted profit before tax increased by 25.6% to £190.1m (2016: £151.4m)
● Profit before tax increased by 18.4% to £182.9m (2016: £154.5m)
● Adjusted diluted earnings per share 14.9p (2016: 12.2p)
● Diluted earnings per share 14.3p (2016: 12.4p)
 
Strong cash generation
● Operating cash flow £210.9m (2016: £170.9m)
● Year-end net debt £401.9m and net debt to Adjusted EBITDA³ 1.71x (2016: 1.84x) after payment of the £100m special dividend in July 2016
● Recommended final dividend of 3.9p per share to be paid on 4 August 2017, bringing the full year ordinary dividend increase to 20.8%

25 May
Peel Hunt
440.00
Buy
25 May
Liberum Capital
380.00
Buy
23 May
HSBC
400.00
Buy
22 May
Jefferies...
400.00
Buy

A mention in the Daily Mail Midas column today - B&M shares have done well over the past year and now trade at 357p, but if consumers decide to tighten their belts, the company should benefit and the shares should rise. Brokers expect the price to top 400p in the next 12 months.

Trading statement

Highlights
● Further strong growth during the quarter despite challenging trading conditions and economic uncertainty generally
● Group revenue growth in the quarter of 18.3%, including excellent UK like-for-like growth of 7.3%, buoyed by strong grocery sales
● 9 new UK stores opened in the quarter and 4 in Germany from the strong pipeline of new stores planned for the current year
● The second quarter has started well and while it's still early in the financial year, we are on course to achieve market consensus profit expectations for the full year

12 Jul
Numis
400.00
Add
12 Jul
Peel Hunt
440.00
Buy
12 Jul
Liberum Capital
380.00
Buy
10 Jul
Deutsche Bank
400.00
Buy
6 Jul
Jefferies...
415.00
Buy
5 Jul
Peel Hunt
440.00
Buy

09:20 14/07/2017
Broker Forecast - Goldman Sachs issues a broker note on B&M European Value Retail
Goldman Sachs today upgrades its investment rating on B&M European Value Retail (LON:BME) to buy (from neutral) and raised its price target to 400p (from 380p). Story provided by

Talk of Asda in the Daily Mail of bidding for B&M

If true early stages, apparently no comment from Asda.

Acquisition of Heron Food Group Limited
RNS
RNS Number : 8566M
B&M European Value Retail S.A.
02 August 2017
 
 
2 August 2017
B&M European Value Retail S.A.
 
Acquisition of Heron Food Group Limited
B&M European Value Retail S.A. ("B&M"), the UK's leading multi-price value retailer, today announces the acquisition by its subsidiary, EV Retail Limited, of the entire issued share capital of Heron Food Group Limited ("Heron") a discount convenience retailer operating predominantly in the North of England with 251 stores.
 
For the year ended 31 December 2016 Heron delivered Revenues of £274.4m, EBITDA of £19.1m, Profit before tax of £8.6m and had Gross Assets of £93.5m as at 31 December 2016. Like-for-like revenue growth in the year was 3.0%. The business currently employs c.3,800 people and has c.1,200 SKUs, including ambient, frozen and chilled foods. Heron's stores average c.2,500 sq ft of retail space compared to B&M's UK average of c.19,000 sq ft.
 
The total enterprise value of the transaction is £152m including the debt assumed of the Heron group. An initial cash consideration of £112.1m was paid by B&M on exchange and completion of the acquisition today. Up to £12.8m of deferred cash consideration may become payable based on the EBITDA performance of the Heron group up to 31 March 2019; this is included in the £152m enterprise value figure. The initial cash consideration was satisfied from B&M's existing cash resources and facilities.
 
The acquisition of Heron will enable B&M to develop and roll out a complementary, proven and profitable discount convenience grocery brand. The customer profiles of Heron and B&M are similar and both formats are expanding successfully. Convenience is one of the areas of growth in grocery retailing today, although much of this growth to date has been based on premium pricing. The Board of B&M believes that Heron's expertise and attractive existing store portfolio, when supported by B&M's proven sourcing, retailing and store roll-out capabilities, can bring an attractive new customer value proposition in an expanding sector of the grocery market.
 
Heron is currently managed and owned by Andrew, David and Michael Heuck. Michael Heuck is retiring from the business as planned, whilst Andrew and David Heuck remain in their existing trading and finance roles with Heron. B&M, alongside the existing Heron management team, will continue to expand and develop the Heron business, initially through the addition of between 10 and 20 new stores per annum.
 
The Board expects the acquisition to be immediately earnings enhancing.
 
Simon Arora, CEO of B&M commented:
"B&M is already the UK's leading general merchandise discount retailer, serving 4 million shoppers per week. The addition of a complementary, proven discount convenience grocery brand to our own structural growth story gives the combined business an even longer, exciting growth runway. I look forward to working with David and Andrew Heuck and the Heron team to drive forward our shared ambition to deliver exceptional value for money to shoppers across the UK."
 
David and Andrew Heuck commented:
"We are delighted to be joining forces and working with B&M. Both companies share a vision to bring great value to customers and the combination of Heron's skills with the expertise and resources of B&M will mean the creation of a potent new force in the structurally growing convenience sector. Today's transaction secures for Heron's loyal and hardworking workforce a perfect long term home within the B&M Group and provides an exciting platform for the roll-out of more Heron stores nationally."
 
The acquisiton constitutes a Class 2 transaction for the purposes of the UK Financial Authority's Listing Rules, and, as such does not require B&M shareholders' approval. 
 
B&M was advised by BofA Merrill Lynch, PwC, Addleshaw Goddard and Gordons.
 
This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.
 
 
 
An analyst conference call in relation to the transaction will take place on Wednesday 2 August 2017 at 11.00am (UK). Please contact Maitland on 0207 379 5151 for further details.
 

12:00 08/09/2017
Broker Forecast - Deutsche Bank issues a broker note on B&M European Value Retail
Deutsche Bank today reaffirms its buy investment rating on B&M European Value Retail (LON:BME) and raised its price target to 425p (from 400p). Story provided by StockMarketWire.com

22 Sep
Goldman Sachs
400.00
Buy

13:40 27/09/2017
Broker Forecast - Goldman Sachs issues a broker note on B&M European Value Retail
Goldman Sachs today reaffirms its buy investment rating on B&M European Value Retail (LON:BME) and raised its price target to 420p (from 400p). Story provided by StockMarketWire.com

09:30 02/11/2017
Broker Forecast - Jefferies International issues a broker note on B&M European Value Retail
Jefferies International today reaffirms its buy investment rating on B&M European Value Retail (LON:BME) and raised its price target to 470p (from 415p). Story provided by

10:10 14/11/2017
Broker Forecast - Peel Hunt issues a broker note on B&M European Value Retail
Peel Hunt today reaffirms its buy investment rating on B&M European Value Retail (LON:BME) and raised its price target to 485p (from 440p). Story provided by StockMarketWire.com

A buy in the DM today

20 Dec
Liberum Capital
475.00
Buy
20 Dec
Peel Hunt
485.00
Buy

I hope trading has been good over the Christmas period, with shoppers picking this store for cheaper items.

Sold today , ahead of results. Tough trading on the high street at the moment. 50/50 as to whether results equal market expectations.

Trading statement

24 Apr
Liberum Capital
475.00
Buy
23 Apr
HSBC
470.00
Buy

Preliminary results


● Group revenues1 increased by 22.4% to £2,976.3m (2017: £2,430.7m), 22.0% at constant currency2 for the 52 week comparable period to the previous year

● UK B&M store fascia Like-for-Like revenue4 growth of 4.7% for the year

● Group profit before tax increased by 25.4% to £229.3m for the 53 week period (2017: £182.9m)
● UK B&M store fascia Adjusted EBITDA1&3 growth of 17.2% to £261.7m (2017: £223.2m), with a 29bps increase in margin to 10.2% of revenue

● The 53rd week added some £53.5m and £3.2m to Group revenues and profit before tax respectively

● Group Adjusted Profit Before Tax1&3 increased by 16.5% to £221.5m (2017: £190.2m), diluted earnings per share 18.6p (2017: £14.3p)

● Cash generated from operations of £242.0m for the 53 week period (2017: £210.9m), Year-end Net Debt of £535.3m and net debt to EBITDA of 1.92x, which equates to 1.72x excluding the capital expenditure incurred to date on the Southern distribution centre (2017: 1.71x)

Trading update

Highlights

● Strong start to the new financial year as B&M's disruptive value model continues to prove highly attractive to customers

● Group revenue growth in the quarter of 21.3%, with B&M UK revenue growth of 8.3% including like-for-like growth of +1.6% and +3.6% on an underlying basis, excluding the non-comparable Easter week in the prior year

● Four new B&M UK stores opened in the quarter (which includes one relocation), reflecting the phasing of the new store opening programme being weighted towards the second half of the financial year. On track for 50 gross new stores in the year as a whole

● Four new stores opened in the quarter by our value convenience store chain, Heron Foods, which continues to trade well on top of good performance in the prior year

● Encouraging progress at Jawoll with good revenue growth of 7.0% in the quarter driven by the Gardening category, with new management driving a fast pace of change in the customer offer ahead of the Autumn/Winter season

Half year report


HIGHLIGHTS

· Group revenues increased by +16.1% to £1,563.0m, +16.0% at constant currency1

· B&M2 UK revenues were up +7.1%, which includes like-for-like revenues3 of +0.9% on an underlying basis4 excluding the non-comparable Easter trading week which fell in week 53 of FY18. Like-for-like revenues were flat if no adjustment is made for the non-comparable Easter trading week

· At the start of Q3 like-for-like sales growth so far in B&M fascia stores in the UK has been similar to H1, and the business is well placed for the "golden quarter" trading

· Group adjusted EBITDA5 increased by 13.5% to £131.8m (FY18: £116.1m) and the B&M UK adjusted EBITDA5 increased by +12.1%

· Profit before tax increased by 32.5% to £115.0m (FY18: £86.8m)

· Earnings per share 9.3p, an increase of 36.8% (FY18: 6.8p). Adjusted Diluted earnings per share5 8.0p, up 14.3% (FY18: 7.0p)
· Cash flow from operations £67.0m (FY18: £44.2m), reflecting EBITDA5 growth and working capital discipline

· Interim dividend6 increased by 12.5% to 2.7p per share (FY18: 2.4p per share) to be paid on 21 December 2018
· 22 gross new B&M UK store openings of which 5 are relocations (net 15 after 2 closures) and on track to open at least 58 gross new B&M stores this financial year
· German business, Jawoll, opened 2 new stores in the period, and on track to open 10 new stores this financial year
· Jawoll's revenue growth was +4.1%, although margin was impacted as expected by clearance activity on old stock lines as Jawoll introduces more B&M sourced products

· Heron Foods has continued to trade well and opened 9 gross new stores, net 4 and on track to open at least 20 gross new stores this financial year
· Babou, a value retailer in France, acquired in October 2018 with 95 stores, providing a platform for future growth in a large and attractive market