B&M has reported that revenues and margins have remained strong in its fourth quarter to date, particularly in its UK business.
Back in January, the value retailer said group revenue increased by 22.5% on a constant currency basis in its third quarter.
Due to the continued strong trading, the group now expects its adjusted EBITDA for the year to 27 March 2021 to be in the range of £590 million to £620 million, after the voluntary payment of business rates amounting to around £80 million. This compares to the previous range announced on 7 January of £540 million to £570 million.
Looking ahead, B&M said: “Group sales will shortly annualise against the elevated sales, driven initially by consumer stockpiling in mid-March 2020, and which continued throughout FY21 due to the ongoing impacts of Covid-19. This, together with the unknown impact of changes to restrictions in 2021, creates significant forecasting challenges which will persist well into the new financial year.”
