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B&M delivers strong third quarter

Value retailer B&M has reported strong trading during the third quarter. According to its latest trading update for the 13 week period from 25 September 2022 to 24 December 2022, total group revenue growth rose 12.3% year-on-year to £1,567m.

Total B&M UK fascia revenue in Q3 was up 10.3% YoY, with one-year like-for-like revenue increasing by 6.4%. Customer transaction numbers remained strong and positive.

B&M said that all UK categories, both in grocery and general merchandise, performed well with “excellent sell-through in key general merchandise ranges supporting improved gross margin performance”.

“FY23 Group adjusted EBITDA now expected to be in the range of £560m to £580m, ahead of current analysts’ consensus estimate of £557m,” the company said.

Alex Russo, Chief Executive, added: “Our strong momentum throughout the Golden Quarter across the businesses demonstrates the strength of our unchanged strategy to relentlessly focus on price, product and excellence in retail execution.

“Despite the challenging macroeconomic environment, we will continue to work hard to help both existing and new customers manage the cost-of-living crisis. The business has exited the quarter well and will remain focused on disciplined execution.”

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