StockMarketWire.com - Discount goods retailer B&M reported 'strong' results as annual pre-tax profits grew despite a 'challenging' retail backdrop amid rising costs and increasing consumer uncertainty. 


For the 52-week period ended 30 March, profit before tax increased by 8.7% to £249.4m and group revenues increased by 17.1% to £3,486.3m.

'B&M has again delivered strong results against the challenging backdrop of continued structural change in our industry, rising costs and uncertain times for consumers...' the company said.

The upbeat results come as the core B&M fascia, representing 80% of total revenues, saw revenues rise 8.7% to £2,789.4, though performance was partly weighed down by the weakness in its Homewares categories during the second and third quarters.

In the UK, the company said its strategy for high-returning growth was on track as its new Southern warehouse infrastructure was almost ready.

In both Germany and France, the company said there was still 'much work to be done to implement the B&M model.'

'We enter the new financial year with renewed trading momentum particularly in the UK, a high quality new store expansion programme in place, and investing in our new infrastructure to support future growth,' Simon Arora, Chief Executive.






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