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By Alec Mattinson2021-03-04T09:03:00+00:00
Top story
The owner of B&M Bargains has hiked its full year profit expectations after sales continued to boom during the second lockdown period this year.
B&M European Value Retail said revenues and margins “have remained strong” in the period since last updating the market on 7 January, despite the uncertainties related to lockdown restrictions in the UK.
Performance in 2021 has been especially strong in its B&M fascia business in the UK.
Accordingly, the group now expects adjusted EBITDA for in 2021 financial year ending 27 March to be in the range of £590m to £620m, stated after the voluntary payment of business rates amounting to approximately £80m.