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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 £1.57 billion from £1.40 billion a year prior. In the UK, it rose by 10% to £1.30 billion from £1.18 billion, or 6.4% on a like-for-like basis. In France, it posted a stronger growth with revenue up 25% at £136 million from £109 million.
Heron Foods revenue was 23% higher year-on-year at £129 million from £105 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 £560 million to £580 million, coming above current analyst outlook consensus of £557 million. The anticipated adjusted Ebitda is a drop of at least 6.3% from £619 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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