B&M half-year profits skyrocket as sales surge
B&M has recorded a jump in interim profits spurred by a leap in sales that boss Simon Arora says shows the retailer is “well-attuned to the evolving needs of customers”.
The value retailer recorded a 95% surge in group EBITDA to £296m in the 26 weeks to September 26, as adjusted group pre-tax profit more than doubled to £254m.
B&M’s group revenues jumped 25% during the period to £2.2bn, spurred by a 23% surge in like-for-like sales across its core UK store estate.
The retailer said while it expected second-half sales to “moderate”, its third-quarter sales were currently at a similar level to those recorded in its first quarter, which were up 27% year on year in like-for-like terms.
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