8th Sep 2021 10:33
(Alliance News) - B&M European Value Retail SA on Wednesday lifted its interim earnings forecast above current analyst consensus estimates.
The discount retailer said it now expects adjusted earnings before interest, tax, depreciation and amortisation for the first half period to September 25 to be between GBP275 million and GBP285 million. The market expectation is currently around GBP235 million.
Revenue for the year to date has been broadly in line with market expectations, while gross margins have been stronger than originally anticipated in the B&M UK fascia business, the company noted.
The performance of General Merchandise and Seasonal categories has been particularly encouraging, the company said, with sell-through rates high in those categories.
"Although the group is well positioned for the upcoming golden quarter, trading patterns and strength of customer demand remain highly uncertain for the balance of financial year 2022," B&M cautioned.
Shares were up 4.7% at 565.80 pence in London on Wednesday. The stock is up 14% so far this year.
By Will Paige; [email protected]
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