B&M raises FY21 guidance amid strong Q4 trading
The retail group expects its EBITDA for the year to be between £590m to £620m
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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.”
