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10 Jan 2019 | 10:03

B&M revenue rises 12% in Q4 on strong Christmas period trading

Discount goods retailer B&M said sales in the fourth quarter rose 12.1%, keeping it on track to deliver a 'record' year for both sales and earnings.

For the 13 week period from to 29 December, sales rose 12.1% to £1,087.1m, and B&M UK sales revenue increased by 4.5% to £874.5m, though LFL sales fell 1.6%.

LFL sales were held back by a disappointing November, but ended with a strong finish in December rising 3.2%, the company said. 'We opened a net 20 new stores in the quarter and we continue to see attractive returns from the new store opening programme. We are on track to open 56 gross new stores in FY19,' the company said. 'Our January period has started well and we are well positioned for the remainder of the financial year. Our pipeline of new stores is healthy and we remain on track to deliver continued sales and earnings growth this financial year and the next.' At 10:03am: (LON:BME) BM European Value Retail share price was -2.6p at 308.1p

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