B&M quarterly revenues hit £969.8m

Value retailer B&M saw its revenues leap 22.9% in the 13 weeks to December 23.

The Liverpool-headquartered company achieved sales of £969.8m during quarter three, up from £789.1m during Q3 2016/17.

Of that total, UK sales for the B&M store estate rose 12.9% to £837.3m.

The firm said the result reflects the continuation of its new store opening programme, as well as a strong performance from its grocery and FMCG (fast-moving consumer goods) ranges.

B&M’s Yorkshire-based Heron Food Group business, acquired in a £152m deal last year, contributed revenues of £79.8m in the quarter.

The company’s German retailer, Jawoll, saw sales increase by 8.2% year-on-year on a euro basis, or 10.4% in pound sterling, to £52.7m.

At the close of the quarter, the UK business traded from 569 B&M stores, with 19 opening in the last 13 weeks and 32 during the financial year to date.

The group’s estate also included 263 Heron stores, with four opening in the quarter.

Jawoll was trading from 84 stores in in Germany, following two openings through the quarter.

B&M chief exec Simon Arora said: “B&M continues to go from strength to strength.

“Despite the demanding comparatives from the very strong Christmas in 2016, our buying, supply chain and retail teams achieved another outstanding performance this year by doing what we do best, which is delivering great value for customers week-in, week-out.”

He added: “With Heron also performing well and Jawoll having a solid quarter, I’m delighted with our progress and on behalf of the board I would like to thank all of our colleagues for their hard work and commitment.”