B&M European Value Retail S.A. (DI) (BME)

Up
Share Price:
537.40p
Market Cap:
5,378m
Change Today:
4.40p
Sector:
Retailers

B&M European Value Retail lifts full-year guidance, will return rates relief

By Alexander Bueso

Date: Thursday 03 Dec 2020

LONDON (ShareCast) - (Sharecast News) - B&M European Value Retail guided higher for full-year operating profits following a "strong" start to the second half, even as it said that it would return the government's approximately 80m of full-year business rates relief for the firm.
Nonetheless, the variety goods retailer also called on authorities to create "a level playing field" so that all essential and online retailers contribute proportionately as regards taxation and business rates.

The company emphasised the disproportionate burden placed on physical stores versus their digital rivals, especially given the uncertainty around Covid-19 lockdowns and their duration.

B&M chief, Simon Arora, also requested an urgent reform of what he termed the "outdated" business rates system, arguing that it was forcing increased job losses across the sector and keeping both his company and other potential occupiers from taking up vacant space in many locations.

In a statement issued just before the close of trading in London, the outfit also said it would continue to evaluate its ability to return any surplus cash to shareholders, as per its capital allocation policy.

Over the first nine weeks of the third quarter, the company had observed a "steadily" improving customer count and like-for-like sales growth was ahead of that seen in the first half - but was expected to moderate until financial year on 27 March 2021.

Full-year earnings before interest, taxes, depreciation and amortisation meanwhile were pegged to come in at between 600-650m, against an analyst consensus provided by B&M of 571m.

That guidance excluded the impact from any voluntary payment of business rates.

The company also said that "significant uncertainty" remained, but that it was still well placed to continue growing profitably in the UK "while developing its proposition in France".

Stock in B&M European Value Retail finished the session down 0.69% at 474.7p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

BME Market Data

Currency UK Pounds
Price 537.40p
Change Today 4.40p
52 Week High 601.00p
52 Week Low 266.50p
Volume 3,964,567
Shares Issued 1,000.82m
Market Cap 5,378m

Performance Indicators

Compare performance with the sector and the market.

Key
Vs Market
Vs Sector
Value
market
  1. full market star
  2. full market star
  3. full market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. empty sector
  5. empty sector
Price Trend
market
  1. full market star
  2. full market star
  3. full market star
  4. full market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. empty sector
Income
market
  1. full market star
  2. full market star
  3. full market star
  4. half market star
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. half sector star
  5. empty sector
Growth
market
  1. full market star
  2. half market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. half sector star
  4. empty sector
  5. empty sector
Price Chg 6m
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. half sector star
  3. empty sector
  4. empty sector
  5. empty sector
P/E
market
  1. full market star
  2. half market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. half sector star
  3. empty sector
  4. empty sector
  5. empty sector
PEG
market
  1. full market star
  2. empty market
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. half sector star
  3. empty sector
  4. empty sector
  5. empty sector
Dividend Yield
market
  1. full market star
  2. half market star
  3. empty market
  4. empty market
  5. empty market
sector
  1. full sector star
  2. half sector star
  3. empty sector
  4. empty sector
  5. empty sector
EPS Growth
Not Available
Operating Margin
market
  1. full market star
  2. full market star
  3. half market star
  4. empty market
  5. empty market
sector
  1. full sector star
  2. full sector star
  3. full sector star
  4. full sector star
  5. empty sector

What The Brokers Say

Strong Buy 8
Buy 0
Neutral 9
Sell 0
Strong Sell 0
Total 17
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.