NEWS

B&M swings into profit

Published on: 28th May 2015

B&M European Value Retail grew sales 4.4% on a like for like basis last year, a decrease from the 6.5% growth recorded the previous year.

bandm_fascia_graham_soultHowever, the retailer’s total full year revenue is up almost 30% to £1.65bn as the group rapidly expands.

The discount chain has also swung to a pre-tax profit of £61.7m on ordinary activities compared to a £19.4m loss during the same period the year before. Its preferred measure of profitability – Ebitda – improved by 33% to £150.2m.

The group plans to open an additional 60 outlets in the UK this year, significantly more than the 52 in the 12 months to 28th March.

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