B&M sales rise 5% to £1.6bn in Q3
During the period B&M UK revenue increased 3.7% to £1,350m, B&M France revenues increased 11.3% to £151m and Heron Foods revenues jumped 11.7% to £144m
B&M has reported that year-on-year revenues rose by 5% to £1.6bn in Q3 2024.
In the 14-week period to 30 December 2023, B&M UK like-for-like revenue growth was 1.2%, driven by “positive transaction numbers”. Meanwhile, Q3 YTD increased 8.1% YoY to £4.1bn.
During the period B&M UK revenue increased 3.7% to £1.3bn, B&M France revenues increased 11.3% to £151m and Heron Foods revenues jumped 11.7% to £144m.
In FY24, the group is on track to open 76 new stores, of which 45 in the UK, 11 in France, and 20 as Heron Foods stores.
Alex Russo, chief executive, said: “The performance across the Golden Quarter has been pleasing, with strong operational execution across the three businesses. Our strategy remains unchanged – we are an everyday low-price discounter with a laser-focus in keeping excellence in retail standards and our costs the lowest. This allows us to provide our products at the best price to all customers – many of whom continue to face significant cost-of-living pressures.
“We are well-positioned for the year ahead and we reiterate our guidance for Group adjusted EBITDA (pre-IFRS 16) within our target range of £620m-£630m for FY24 (FY23: £573m). Our store pipeline is strong and we will open not less than 45 B&M UK stores in each of the next two financial years, driving disciplined cash generating growth.”
