B&M European Value Retail S.A. (BME.L) reported Thursday that its first-half group statutory profit before tax grew 122.4 percent to 235.6 million pounds from 106.0 million pounds in the year-ago period. Earnings per share rose to 18.7 pence from 8.4 pence last year.
Group adjusted EBITDA surged 95.3 percent to 295.6 million pounds from 151.4 million in the prior-year period.
Group revenues grew 25.3 percent to 2.24 billion pounds from 1.79 billion pounds in the year-ago period. Revenue also increased 25.3 percent on a constant currency basis.
The company said it will pay an ordinary half-year dividend of 4.3 pence per ordinary share and a special dividend of 25.0 pence per ordinary share as one interim dividend together on 4 December 2020 to shareholders on the register at 20 November 2020. The ex-dividend date will be 19 November 2020.
Looking ahead, B&M European Value said that LFL sales growth in the B&M UK fascia is expected to moderate over the second half, but so far in the third quarter has been at a similar level to the first half.
The company noted that while about half of the Babou/B&M France stores remain open, they sell essential goods only and with significantly reduced footfall during the November lockdown.
The company said that the range of potential outcomes for fiscal 2021 remains unusually wide at this stage of the year and it is difficult to make a clear assessment of how consumers will react over the coming months.
However, against this backdrop, whilst acknowledging the outlook for consumer confidence remains unknown, the B&M Group is cautiously optimistic that its broad range of essential goods will continue to appeal to customers.
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