B&M has reported that group revenue has increased by 3.7% to £2.64 billion in the six months to 28 September, 2024.
The retailer saw a 6% increase in sales in the second quarter and a 1.5% increase in the second quarter. Group adjusted EBITDA was up 2% for the first half to £274 million.
Group operating profit fell by 1.8% to £258 million as B&M incurred higher costs following an increase in stores and investment in its supply chain in France.
During the first half of the year, B&M opened 39 new stores, including 30 in the UK. The group said it is confident that its outlook for the second half and full year is achievable and expects adjusted EBITDA for the full year to be in the range of £620m – £660m.
Alex Russo, chief executive, commented: “The business is well positioned for the golden quarter with its continued focus on price, product and standards. While the consumer environment remains uncertain, the group has demonstrated it executes well in all trading environments.
“Our long-term ambition for the group remains unchanged, in supporting customers with exceptional value. As we trade through the golden quarter, we are encourage by recent volume momentum and remain focused on delivering profitable, cash-generating growth for all of our shareholders.”
