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08 Sep 2021 | 09:49

B&M Value Retail shares up as interim forecasts upgraded

(Sharecast News) - Shares in B&M European Value Retail rose on Wednesday after the company said it expected interim core earnings to be ahead of analysts' forecasts on the back of stronger gross margins. The owner of convenience retail stores said adjusted earnings before interest, taxes, depreciation and amortisation for the six months to September 25 would be in a range of £275m - £285m.

Consensus is currently around £235m, the company said in a short trading statement, adding that group revenue to date had been broadly in line with market expectations, and that gross margins in B&M fascia stores in the UK have been stronger than originally anticipated.

"Although the group is well positioned for the upcoming 'Golden Quarter', trading patterns and strength of customer demand remain highly uncertain for the balance of fiscal 2022," B&M said.
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