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

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