High Street

B&M raises FY21 guidance amid strong Q4 trading

The retail group expects its EBITDA for the year to be between £590m to £620m

B&M has raised its full-year guidance for the financial year ended 27 March 2021, as revenue has risen 22.5% in its fourth quarter to date, despite “uncertainties” remaining regarding the Covid-19 pandemic.

Following this strong trading, B&M expects its EBITDA for the full-year to be in the range of £590m to £620m, after the voluntary payment of business rates came to around £80m.

This would be a rise from the previously announced range of £540m to £570m on 7 January 2021.

B&M said: “Group sales will shortly annualise against the elevated sales, driven initially by consumer stockpiling in mid March 2020, and which continued throughout FY21 due to the ongoing impacts of Covid-19. 

“This, together with the unknown impact of changes to restrictions in 2021, creates significant forecasting challenges which will persist well into the new financial year.”

The retailer added: “The safety of the group’s colleagues and customers remains the key priority, whilst working hard to continue to meet customers’ needs. B&M also re-introduced the colleague discount for all NHS workers throughout January 2021.”

Back to top button

Please disable your ad-blocker to continue

Ads are the primary way in which publishers generate the revenue needed to pay their staff. If we can't serve ads, we can't pay journalists to write the news.