B&M Euro Value retail increases its 2017 interim dividend by 18.8%

DividendMax Ltd.

B&M Euro Value retail increases its 2017 interim dividend by 18.8%


● Group revenues increased by 18.9% to £1,105.9m, +17.7% at constant currency

● 20 net new UK store openings, including 500th store opened in April, on track to open at least 50 new stores this financial year  

● German business, Jawoll, opened 10 net new stores in the period, on track to open 19 new stores this financial year

● UK like-for-like revenues¹ +0.2% if including the planned impact of nearby openings but +1.9% on an underlying basis²

● Group adjusted EBITDA increased by 14.6% to £99.2m (FY16: £86.6m); Group EBITDA increased by +9.6% to £95.7m (FY16: £87.3m)

● Group adjusted profit before tax increased by +17.2% to £77.9m (FY16: £66.4m)

● Adjusted diluted earnings per share 6.1p, up +17.3% (FY16: 5.2p) and diluted earnings per share 5.8p, up +11.5% (FY16: 5.2p)

● Cash flow from operations £77.7m (FY16: £44.1m), an increase of +76.0%

● £100m special dividend (10.0p per share) paid to shareholders in July 2016, in line with our capital structure policy

Interim dividend increased by 18.8% to 1.9p per share (FY16: 1.6p per share) to be paid on 23 December 2016

Sir Terry Leahy, Chairman, said,

"With our strong value proposition, unique sourcing model, financial strength and well-invested store network and infrastructure, B&M is equipped to prosper in a challenging and uncertain retail environment. B&M has a proven strategy for growth with plenty of opportunity for high returning store expansion in our chosen markets, and we can fund that investment comfortably from our internal cash resources. These characteristics are rare in modern retailing."

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