B&M European Value Retail S.A. Golden Quarter - strong profitable growth (0146Z)
2024年1月9日 - 4:00PM
RNSを含む英国規制内ニュース (英語)
TIDMBME
RNS Number : 0146Z
B&M European Value Retail S.A.
09 January 2024
9 January 2024
Golden Quarter - strong profitable growth
B&M European Value Retail S.A. ("the Group"), the UK's
leading variety goods value retailer, today provides a trading
update for the third quarter ("Q3") of its current financial year
("FY24"), relating to the 13 week period from 24 September 2023 to
23 December 2023.
Highlights
Fascia revenue Q3 FY24 Q3 YTD FY24
perfomance
GBPm % GBPm %
------- ------ ------- ------
B&M UK (1) 1,350m 3.7% 3,395m 6.3%
B&M France 151m 11.3% 383m 19.8%
Heron Foods 144m 11.7% 416m 15.1%
------- ------ ------- ------
-- Group revenue growth in the quarter of 5.0% year-on-year
("YoY") to GBP1,645m. Q3 YTD growth of 8.1% YoY to GBP4,194m
on a constant currency basis (2)
-- In the 14 week period to 30 December 2023, B&M UK like-for-like(3)
revenue growth was 1.2%, a strong quarter given prior
year comparatives, performance was driven by positive
transaction numbers
-- Excellent general merchandise volume performance delivered
strong sales participation and high sell-through, exiting
the quarter with a clean Group inventory position flat
YoY
-- On track to open 76 gross new stores across the Group
in FY24 (45 in B&M UK, 11 in B&M France and 20 in Heron
Foods)
-- Consistent with the Group's capital allocation framework,
the Board will be declaring a special dividend of 20.0p
per Ordinary Share to be paid on 9 February 2024 to shareholders
on the register at 19 January 2024. The ex-dividend date
will be 18 January 2024(4)
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 GBP620m - GBP630m for FY24 (FY23: GBP573m). 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."
Notes:
1. References in this announcement to the B&M business
include the B&M fascia stores in the UK except for the 'B&M
Express' fascia stores. References in this announcement to the
Heron Foods business include both the Heron Foods fascia and
B&M Express fascia convenience stores in the UK.
2. Constant currency comparison involves restating the prior
year Euro revenues using the same exchange rate as that used to
translate the current year Euro revenues.
3. One-year like-for-like revenues relate to the B&M UK
estate only (excluding wholesale revenues) and include each store's
revenue for that part of the current period that falls at least 14
months after it opened compared with its revenue for the
corresponding part of FY23. This 14-month approach has been adopted
as it excludes the 2-month halo period which new stores experience
following opening.
4. Dividends are stated as gross amounts before a deduction of
Luxembourg withholding tax which is currently 15%.
Conference call
There will be a conference call for investors and analysts to
discuss this trading update on Tuesday 9 January 2024 at 09:00am
(UK).
Investors and analysts should register for the call using the
following link:
https://register.vevent.com/register/BIf587de45def7488d9fdfc523033aa99f
Enquiries
B&M European Value Retail S.A.
For further information please contact: +44 (0) 151 728 5400
Ext. 6363
Alex Russo, Chief Executive Officer
Mike Schmidt, Chief Financial Officer
Dave McCarthy, Head of Investor Relations
Investor.relations@bandmretail.com
Media
For media please contact:
Sam Cartwright, H-advisors, sam.cartwright@h-advisors.global +44
(0) 7827 254 561
Jonathan Cook, H-advisors, jonathan.cook@h-advisors.global +44
(0) 7730 777 865
Disclaimer
This announcement contains statements which are or may be deemed
to be 'forward-looking statements'. Forward-looking statements
involve risks and uncertainties because they relate to events and
depend on events or circumstances that may or may not occur in the
future. All forward-looking statements in this announcement reflect
the Company's present view with respect to future events as at the
date of this announcement. Forward-looking statements are not
guarantees of future performance and actual results in future
periods may and often do differ materially from those expressed in
forward-looking statements. Except where required by law or the
Listing Rules of the UK Listing Authority, the Company undertakes
no obligation to release publicly the results of any revisions to
any forward-looking statements in this announcement that may occur
due to any change in its expectations or to reflect any events or
circumstances arising after the date of this announcement.
About B&M European Value Retail S.A.
B&M European Value Retail S.A. is a variety retailer with
717 stores in the UK operating under the "B&M" brand, 331
stores under the "Heron Foods" and "B&M Express" brands, and
122 stores in France also operating under the "B&M" brand as at
23 December 2023. It was admitted to the FTSE 100 index on 21
September 2020.
The B&M Group was founded in 1978 and listed on the London
Stock Exchange in June 2014. For more information, please visit
www.bandmretail.com
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