Proactive Investors - B&M European Value Retail SA (LON:BMEB) has said profit for the year will likely be at the top end of guidance after revenue jumped by just over 10%.
Adjusted pre-tax earnings are expected to come in at £629 million for the year to March, up 9.8% on 2023 and at the top end of the £620 million to £630 million guided.
Revenue climbed 10.1% to £5.5 billion, aided by volume growth and positive like-for-like sales growth, B&M said in a post-close trading update.
A gross 47 new UK stores opened over the year, two ahead of guidance, with B&M having taken over 51 Wilko sites in September for £13 million after the latter's collapse.
“The openings are trading well, including those Wilko stores acquired in the year, which are performing ahead of expectations,” B&M added.
In the UK, B&M reported like-for-like revenue growth of 3.7% on increased customer transaction numbers.
"The group has performed well in the year delivering strong operational execution,” chief executive Alex Russo commented.
“A relentless focus on everyday low prices, great product ranges and excellence in operational standards [...] delivers profitable, cash-generating growth for our shareholders.”
Russo said B&M planned to open 45 UK stores in each of the next two years as the business was “well set” for the future.