B&M has said it is well positioned for the Golden Quarter as its profits increased in the six months to 28 September.
Sales at the variety retailer climbed 3.7% to £2.6m, driven by volume growth, as UK revenues also hit £2.1m for the period.
Meanwhile, group EBITDA edged up 2% to £274m. But group adjusted operating profit fell 1.8% to £258m as B&M faced higher costs following an increase in stores and investment in its supply chain in France.
In order to futureproof volume growth, the business said a new UK imports centre would be open FY26, which it said would optimise “existing distribution centre network capacity levels”.
During the half year, B&M opened 39 new stores across the group including 30 at B&M UK, five in France and four at Heron Foods.
The retailer said it is confident in its outlook for its second half and full year and anticipates that its full-year group adjusted EBITDA will be in the range of £620m to £660m
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The results come after B&M beat its lockdown peak in June, as profits were boosted by new store openings.
B&M CEO Alex Russo said: “This is a good performance as we annualise a record prior year of earnings growth with strong first half comparatives.”
“We continue to execute with everyday low price integrity for all our customers, with industry leading availability and excellence in operational standards.
“Our model is underpinned by a disciplined and low-cost approach across all three of our businesses, focusing on simple, sustainable growth, delivered through the hard work of our teams.”
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