Double-Digit Increase in Revenue and Profit for B&M Group
- B&M reports double-digit sales and profit growth
- Group revenue up 16% to £1.56bn
- Profit before tax increased by 32.5% to £115m
- UK revenues up 7.1%
- 22 new B&M UK stores opened, 5 relocations
- Jawoll revenue growth of 4.1% at £111.2m
- Heron Foods revenue rose 268% to £175m
- B&M on track for 58 new stores this financial year
- Jawoll set to open 10 new stores
- CEO Simon Arora: ‘well placed in uncertain retail environment’
- Expanding B&M’s value-led model in Europe
Discount retailer B&M has announced a double-digit increase in both group revenues and profit before tax, with revenue jumping 16% to £1.56bn during the 26-week period ending September 29. Profit before tax increased by 32.5% to £115m compared to last year’s £86.6m. UK revenues rose 7.1%. The company opened 22 new stores in the UK, with five relocations, and plans to open at least 58 gross new stores this financial year. Its German subsidiary, Jawoll, posted a 4.1% revenue growth to £111.2m and is set to open 10 new stores. Heron Foods, with 269 UK stores, saw a 268% revenue increase to £175m and plans to open at least 20 gross new stores this year. CEO Simon Arora said the company is ‘well placed for the ‘golden quarter’ trading in Q4 and is expanding its value-led model across Europe.
Factuality Level: 10
Factuality Justification: The article provides accurate information about B&M’s financial performance, store openings, and expansion plans without any misleading or irrelevant details, bias, or logical errors.
Noise Level: 2
Noise Justification: The article provides relevant information about B&M’s financial performance, store openings, and expansion plans without any irrelevant or misleading content. It also includes specific numbers and figures to support its claims. The reporting is not exaggerated and stays on topic throughout.
Financial Relevance: Yes
Financial Markets Impacted: B&M Retail Group’s financial performance impacts its stock value and may affect the shares of other discount retailers or related companies.
Financial Rating Justification: The article discusses B&M Retail Group’s financial results, including revenue growth and profit increase, as well as their plans for store expansion. This information can impact investors and the stock market value of the company and potentially similar businesses.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.
www.retailsector.co.uk