B&M European Value retail 2018 interim results
Group revenues increased by +21.7% to £1,346.4m, +21.0% at constant currency
B&M UK like-for-like revenues increased by +7.5%, including growth of +7.7% in the second quarter
Group adjusted EBITDA increased by 19.8% to £116.1m (FY17: £96.9m);
Profit before tax increased by 17.8% to £86.8m (FY17: £73.7m)
Adjusted Diluted earnings per share 7.0p, up 18.6% (FY17: 5.9p). Earnings per share 6.8p, an increase of 17.2% (FY17: 5.8p)
20 new B&M UK store openings including 3 relocations and on track to open gross 50 new B&M stores, of which 7 are relocations, this financial year
German business, Jawoll, opened 7 new stores in the period, and on track to open 11 new stores this financial year
Cash flow from operations £44.2m (FY17: £77.7m), reflecting earlier than normal seasonal stock building ahead of Christmas to support improving on-shelf product availability for customers
Interim dividend increased by 26.3% to 2.4p per share (FY17: 1.9p per share) to be paid on 22 December 2017
Heron Foods, a discount convenience retailer, acquired in August 2017 with 251 stores, providing a complementary brand, format and additional profitable growth opportunity
Contracts exchanged on the purchase of land in Bedford for large new UK B&M Southern distribution centre, to be operational late in the calendar year 2019
