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Highlights

  • B&M European Value Retail S.A. posted over 10.4% YoY growth in revenue in H1 FY24.
  • Its statutory profit before tax grew by more than 10.4% in the reporting period.
  • For fiscal year 2024, BME is expecting its adjusted EBITDA (pre-IFRS 16) to grow to approximately £620 million - £630 million, from £573 million in FY23.

FTSE 100-listed general retail company B&M European Value Retail S.A. (LSE: BME) is one of the fast-growing variety goods value retailers. BME Has its stores across the United Kingdom and France.

In the first half of the fiscal year 2024, B&M European Value Retail posted over 10.4% year-on-year (YoY) growth in revenue. Its statutory profit before tax grew by more than 10.4% in the reporting period. It recorded a net debt to adjusted EBITDA (pre-IFRS 16) leverage ratio of 1.1x.

In H1 FY24, the company’s interim dividend per share jumped by 2% YoY. The firm has also paid a special dividend of 20 pence per share earlier this month.

Also, it paid an interim dividend of 5.10 pence per share in December 2023, with an ex-dividend date of 16 November 2023.

 

For fiscal year 2024, BME is expecting its adjusted EBITDA (pre-IFRS 16) to grow to approximately £620 million - £630 million, from £573 million in FY23.

B&M European Value Retail S.A. is on track to open 76 gross new stores in FY24. Notably, it is looking forward to open 45 B&M stores across the United Kingdom in each of the two upcoming fiscal years.

 

Top 10 Shareholders:

Around 45.25% of the total shareholdings is held by its top ten shareholders. While Capital Research Global Investors is the biggest shareholder with 9.19% stake, Fidelity Management & Research Company LLC in the second biggest shareholder with 6.75% stake in BME.

 

Stock Price Performance

BME’s stock price has dropped by approximately 0.62% in the last one month. It has fallen by over 9.84% over the last six months. The stock’s 52-week low and high price stand at GBX 432.37 and GBX 595.43, respectively.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 16 February 2024. The reference data in this report has been partly sourced from EODHD/Others.