B&M European Value Retail S.A. Trading Statement (2196U)
July 28 2020 - 2:00AM
UK Regulatory
TIDMBME
RNS Number : 2196U
B&M European Value Retail S.A.
28 July 2020
28 July 2020
B&M European Value Retail S.A.
Trading Update
B&M European Value Retail S.A., ("the Group") the UK's
leading general merchandise value retailer, today provides a
trading update relating to its Year To Date performance.
On 1 July 2020, the Group announced that it had made a strong
start to the new financial year and, against a highly uncertain
economic backdrop and continued impacts from Covid19, B&M was
well placed to continue to grow profitably in the UK and continue
to develop and prove the proposition in France.
The Group's current expectation for the six months to 26
September 2020 ("H1 FY21") Adjusted EBITDA(1) (on a pre-IFRS 16
basis) is that it is likely to be in the range of GBP250m to
GBP270m. The average analysts' consensus forecast(2) for H1 FY21
Adjusted EBITDA(1) (on a pre-IFRS 16 basis) is GBP208.1m.
There remains considerable uncertainty in relation to both the
progression of Covid-19 and the economic outlook and it is
therefore hard to predict trading levels for the second half of the
year.
The safety of the Group's colleagues and customers remains the
key priority whilst working hard to continue to meet customers'
needs in these difficult times. A more detailed update at the Half
Year Results announcement is scheduled for 12 November 2020.
This announcement contains inside information which is disclosed
in accordance with the Market Abuse Regulation.
1. The Directors consider adjusted EBITDA figures to be more
reflective of the underlying business performance of the Group and
believe that this measure provides additional useful information
for investors on the Group's performance. Adjusting items are the
effects of derivatives, one off refinancing fees, foreign exchange
on the translation of intercompany balances and the effects of
revaluing or unwinding balances related to the acquisition of
subsidiaries.
2. The consensus estimate for Adjusted EBITDA is based upon the
average of 9 analyst publications that provide H1 FY21
estimates.
B&M European Value Retail S.A.
For further information please contact +44 (0) 151 728 5400 ext
5766
Simon Arora, Chief Executive
Paul McDonald, Chief Financial Officer
Steve Webb, Investor Relations Director
Investor.relations@bandmretail.com
Media
For media please contact +44 (0) 207 379 5151
Maitland, Daniel Yea
bmstores-maitland@maitland.co.uk
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTEAKXXADEEEFA
(END) Dow Jones Newswires
July 28, 2020 02:00 ET (06:00 GMT)
B&m European Value Retail (LSE:BME)
Historical Stock Chart
From Mar 2024 to Apr 2024
B&m European Value Retail (LSE:BME)
Historical Stock Chart
From Apr 2023 to Apr 2024
