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B&M has reported that group revenues rose by 3.7% to £2.6m for the 26-week period to 28 September, as UK revenues also reached £2.1m during the period.
It comes as the retailer’s total UK sales growth improved across the half by 6% in the second quarter, spelling an appreciable increase from 1.5% in the first quarter due to improved like-for-likes.
Meanwhile, group adjusted EBITDA rose by 2% to £274m.
Across the whole group, B&M opened a total of 39 new stores in the first half: 30 in the UK, five in France and four in Heron.
However, the group’s adjusted operating profits inched down since the same period last year from £263m to £258m, with statutory profit before tax falling from £222m to £169m.
While the group’s post-tax free cash flow has fallen from £143m to £73m during the period, B&M maintains a clean inventory position following spring/summer and early autumn/winter shipments in order to derisk its Golden Quarter execution.
As a way to futureproof volume growth, B&M will open a new UK imports centre in FY26, optimising existing distribution centre network capacity levels.
Alex Russo, CEO of B&M, said: “Our long-term ambition for the group remains unchanged, in supporting customers with exceptional value. As we trade through the Golden Quarter, we are encouraged by recent volume momentum and remain focussed on delivering profitable, cash-generating growth for all of our shareholders.”
