4th Mar 2021 09:24
(Alliance News) -Â B&M European Value Retail SA on Thursday raised full-year guidance amid good trading in its final quarter to date.
The discount retailer said revenue and margins have remained strong over the fourth quarter to date, particularly in the B&M fascia business in the UK.
As such, B&M now expects adjusted earnings before interest, tax, depreciation and amortisation for the financial year ending March 27 to be in the range of GBP590 million to GBP620 million, after the voluntary payment of business rates amounting to around GBP80 million. This compares to the range announced in January of GBP540 million to GBP570 million.
"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," B&M noted.
Shares in B&M were down 2.4% at 531.00 pence in London on Thursday, though the stock price has doubled since March last year.
By Lucy Heming;Â [email protected]
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