Discount retailer celebrates £2bn revenue

REVENUE for discount retailer B&M has topped £2bn – up 23.6% on last year’s figure of £1.6bn.

The Liverpool-based company’s preliminary results for the year ended March 26 saw adjusted group EBITDA increase 16.2% to £202.5m (2015: £174.2m).

Highlights include a record number of 79 UK store opening (74 net new stores), taking its total number of outlets to 499 by the end of March. A pipeline of 50 new stores is on the way in the next financial year.

Two new distribution centres opened in the UK in September totaling 800,000sq ft, supporting B&M European Value Retail’s continued rapid store growth.

There are also 19 new store openings in Germany in the offing for FY2017.

Chairman Sir Terry Leahy said: “B&M has elivered another year of strong progress with the implementation of our strategy for growth and an excellent financial performance in terms of overall sales, profits and cash generation.

“Our expansion strategy is on track to deliver further growth during the year ahead in our chosen markets.

“The board is pleased to declare a special dividend of 10p per share as well as recommending a substantial increase in the final dividend, reflecting our strongly cash generative business model.”

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