UK: Listed Food and Non-food Discounter B&M posts strong Financial year

Britisch listed discount retailer B&M European Value Retail published:

  • Group revenues increased by 16.5% to $4,8m 

  • B&M UK LFL revenues were +3.3% with a strong finish, Q4 LFL +6.6% 

  • 51 gross new B&M store openings in the UK, net 36 (totalling 600 stores)

  • 18 gross new store openings at its UK Heron food discount brand, net 12 (totalling 275 stores, especially in North England)

  • 5 new store openings and 13 conversions to the ‘B&M’ format at its French Babou brand (totalling 90 stores in France)

  • B&M UK adjusted EBITDA growth of +8.7%

  • Group adjusted EBITDA increased by +7.1% to $429m

  • Net cashflow from operations $667m, (FY19: $530m) and a reduction in net debt to adjusted EBITDA 1.02x (FY19: 1.91x)

  • Full year ordinary dividend $0.101 (+6.6%)

  • Shares valued at publication $4.8B

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