B&M Group continues on strong growth path

B&M European Value Retail, the 'multi-price' value retailer, has announced its interim results for the 26 weeks to 26 September 2015.

Group revenues have increased by 25.8 per cent to £930.3m, with 47 net new stores opened in the UK in the period, on track for 80 net new openings this financial year.

UK like-for-like revenues were +1.2 per cent.

Group adjusted profit before tax increased by 25.4 per cent to £66.4m.

There are now more than 80 garden centres incorporated in stores in the group. Garden buyer is Nigel Press.

Two new additional distribution centres opened in the UK by the end of September 2015 totalling 800,000 sq ft.

Chairman Sir Terry Leahy said: "B&M has made good progress in the first half of the financial year towards its strategic goals of reaching at least 850 UK stores and creating a platform for longer term growth in Germany, whilst delivering further pleasing growth in sales, profits and cash generation. We are well prepared for the rest of the year and beyond."

Chief executive Simon Arora said: "Our unique retail model continues to deliver strong revenue growth as we extend our geographic footprint. In the UK, our teams have opened 47 new stores in just 26 weeks – a record rate of openings for B&M.

"The business is growing at an annualised rate of over £400m per year, which brings its own operational challenges. However, the investment made in our supply chain infrastructure and in other core functions will support the next stage of our expansion. Our colleagues have worked incredibly hard over the period and I am very proud of their continued achievements."

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Read These Next

Pots and containers

Pots and containers

Superior propagation products can justify extra expenditure by providing precise cell fill, optimum root development and healthy plugs, writes Sally Drury.

Business Planning - Inflationary pressures

Business Planning - Inflationary pressures

How can horticulture businesses respond to Brexit-fuelled inflation? Neville Stein outlines the options.

Garden centre profile: Mappleborough Green Garden Centre

Garden centre profile: Mappleborough Green Garden Centre

Phase two of the redevelopment of the former Badger Nurseries has delivered rapid and impressive results, Matthew Appleby discovers.

Follow us on:
  • Facebook
  • LinkedIn
  • Twitter
  • Google +
Horticulture Jobs
More Horticulture Jobs

Garden retail Top 100 GARDEN CENTRES

Our exclusive ranking of garden centre performance by annual turnover. NEW: 2016 listing just published

Garden Centre Prices

GARDEN CENTRE PRICES w/e 21 September 2016
GARDEN CENTRE PRICES w/e 24 August 2016

Pest & Disease Tracker bulletin 

The latest pest and disease alerts, how to treat them, plus EAMU updates, sent direct to your inbox.

Sign up here