CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.96% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Retailer B&M says annual profit may rise up to 16% as turnaround takes hold

By Reuters News

Nov 12 (Reuters) - Discount retailer B&M BMEB.L said on Thursday its annual profit may rise up to 16% after second-quarter like-for-like UK sales grew 3.2%, as lower prices and leaner ranges under CEO Tjeerd Jegen’s turnaround plan win back cash-strapped shoppers.

Here are some details:

  • B&M forecast fiscal 2027 adjusted pre-tax profit between £280 million and £330 million ($371.20 million and $437.48 million), compared with £284 million reported a year earlier

  • The rise in second-quarter sales marks a turnaround from the first quarter, when a slow start to the gardening season dragged on UK sales

  • Early trading in its "golden quarter", which refers to its peak trading period between October and December, has been positive in each of its three businesses, it said

  • Revenue for the six months ended September 26 rose 3.6% to £2,848 million, with higher like-for-like (LFL) sales in all three businesses

  • Jegen's "Back to B&M Basics" plan is intended to rebuild profitability amid stiff competition, particularly from supermarket loyalty schemes

  • First-half LFL sales grew 5.9% in France and B&M said it had not seen a material impact from ongoing social unrest in the country

($1 = 0.7543 pounds)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.