Source - SMW
B&M European Value Retail's pre-tax profits rose by 17.8% to £86.8m in the 26 weeks to 23 Sep.

And the group also announced that  Peter Bamford had been appointed as non-executive chairman with effect from 1 Mar. 

He will succeed Sir Terry Leahy who will retire from the board on that date after five years in the role.

First half group revenues increased by 21.7% to £1,346.4m - up 21.0% at constant currency and B&M UK like-for-like revenues increased by 7.5%, including growth of 7.7% in the second quarter.

Group adjusted EBITDA4 increased by 19.8% to £116.1m (FY17: £96.9m).

Chief executive Simon Arora said: 'B&M continues to prosper in a challenging retail environment and our teams remain wholly focused on helping our customers spend less during uncertain times. 

'Our UK business continues to go from strength to strength, with new and like-for-like stores performing exceptionally well and the acquisition of Heron has added another leg of growth to the Group. 

'We have also taken steps to enable us to push on with expanding our Jawoll business.'


At 8:12am: (LON:BME) BM European Value Retail share price was +0.55p at 392.85p



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