Full year consensus forecasts likely to hold as UK B&M sales UK LFL was +7.7% in 2Q – however, this was achieved with a 80bps decline in gross margin. Overall PBT of £86.8m (+17.8%) was slightly below consensus despite a £2.4m EBITDA contribution from newly acquired Heron Foods. The next key test 3Q trading against start of marketing-driven sales acceleration of 2016/17. Germany had a difficult 1H with EBITDA down 22.5% - this casts doubt on B&M’s ability to ma
14 Nov 2017
B&M – 1H Results
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B&M – 1H Results
B&M European Value Retail SA (BME:LON) | 517 -41.3 (-1.5%) | Mkt Cap: 5,180m
- Published:
14 Nov 2017 -
Author:
Tony Shiret -
Pages:
3
Full year consensus forecasts likely to hold as UK B&M sales UK LFL was +7.7% in 2Q – however, this was achieved with a 80bps decline in gross margin. Overall PBT of £86.8m (+17.8%) was slightly below consensus despite a £2.4m EBITDA contribution from newly acquired Heron Foods. The next key test 3Q trading against start of marketing-driven sales acceleration of 2016/17. Germany had a difficult 1H with EBITDA down 22.5% - this casts doubt on B&M’s ability to ma