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03 Jun 2021 | 07:01

B&M European Value Retail warns on lower UK revenues as profits soar

(Sharecast News) - B&M European Value Retail warned 2022 UK revenues would be lower against tough comparatives as it reported better than expected annual profits. The company, which remained fully open during the pandemic, said adjusted core earnings rose 83% to £626.4m on the back of a 26% rise in revenue to £4.8bn.

"Trading continues to be volatile at a weekly and product category level, in particular since the recent easing of lockdown restrictions. This is likely to remain the case for the whole of full-year 2022, as the business annualises against the very strong comparatives throughout last year," the company said on Thursday.

"As such, the B&M UK business expects to see a decline in like-for-like revenues in full year 2022 compared to 2021, but is focused on delivering a healthy two year LFL versus 2020."
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