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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  B&M European Value Retail S.A.    BME   LU1072616219

B&M EUROPEAN VALUE RETAIL S.A.

(BME)
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UK discounter B&M thrives in pandemic as earnings double

11/12/2020 | 04:06am EST

LONDON (Reuters) - B&M, the British discount retailer that entered the FTSE 100 index in September, on Thursday reported a 95% rise in first-half core earnings as its low prices and out-of-town stores chimed with consumers during the COVID-19 pandemic.

The group, which sells everything from homewares and toys to electricals and food, said like-for-like sales in its main B&M UK business soared 23% in the 26 weeks to Sept. 26.

B&M's stores have been allowed to stay open through UK lockdowns because they sell some food.

"Our combination of everyday value across a broad range of product categories and convenient out-of-town locations has proved popular with shoppers," said Chief Executive Simon Arora.

Sales growth at B&M UK was forecast to moderate over the second half, but had so far been at a similar level to the first half.

Shares in the group have increased 43% over the last year, giving it a market capitalisation of 5 billion pounds ($6.6 billion) - more than that of both Sainsbury's and Morrisons, Britain's second and fourth biggest supermarket groups by sales.

The group, whose full name is B&M European Value Retail, made adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of 295.6 million pounds ($389.6 million) in the six months to Sept. 26, up from 151.4 million pounds in the same period last year. Revenue increased 25.3% to 2.24 billion pounds.

B&M has expanded rapidly. It has 963 stores in the UK, trading as B&M, Heron Foods and B&M Express, and 103 stores in France, trading as Babou and B&M.

It plans 40-50 B&M UK gross openings in the full 2020-21 year, offset by 10 closures.

The group is paying an interim dividend of 4.3 pence, up 59.2% and a special dividend of 25 pence, worth 250 million pounds.

(Reporting by James Davey,; Editing by Sarah Young and Keith Weir)

By James Davey


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
B&M EUROPEAN VALUE RETAIL S.A. -2.78% 504.2 Delayed Quote.-2.32%
J SAINSBURY PLC -1.94% 238 Delayed Quote.5.54%
MSCI UNITED KINGDOM (STRD, UHD) -1.67% 1069.544 Real-time Quote.5.50%
WM MORRISON SUPERMARKETS PLC -1.51% 182.55 Delayed Quote.2.93%
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Financials
Sales 2021 4 678 M 6 355 M 6 355 M
Net income 2021 366 M 498 M 498 M
Net Debt 2021 1 896 M 2 576 M 2 576 M
P/E ratio 2021 13,7x
Yield 2021 2,52%
Capitalization 5 046 M 6 859 M 6 855 M
EV / Sales 2021 1,48x
EV / Sales 2022 1,42x
Nbr of Employees 34 110
Free-Float 85,9%
Chart B&M EUROPEAN VALUE RETAIL S.A.
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B&M European Value Retail S.A. Technical Analysis Chart | BME | LU1072616219 | MarketScreener
Technical analysis trends B&M EUROPEAN VALUE RETAIL S.A.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 559,38 GBX
Last Close Price 504,20 GBX
Spread / Highest target 29,9%
Spread / Average Target 10,9%
Spread / Lowest Target -14,7%
EPS Revisions
Managers and Directors
NameTitle
Simon Arora Chief Executive Officer & Executive Director
Peter Richard Bamford Non-Executive Chairman
Alejandro Russo Chief Financial Officer & Executive Director
Ronald Thomas McMillan Senior Independent Non-Executive Director
Tiffany Hall Independent Non-Executive Director
Sector and Competitors