Investing.com –London-listed shares in B&M (LON:) slumped by greater than 6% on Wednesday as analysts raised considerations over a scarcity of steerage from the low cost retailer in its newest full-year earnings.
Preliminary outcomes for the 53 weeks ended on March 30 confirmed that revenue on the British group got here in at 629 million kilos, roughly assembly the highest finish of its prior steerage vary of 620 million kilos to 630 million kilos. Revenues additionally jumped by 10.1% to five.5 billion kilos.
In a press release, Chief Govt Alex Russo stated that the agency “demonstrated robust volume-led momentum” regardless of dealing with “tougher comparatives.”
B&M stated it plans to open “not lower than” 45 gross new shops within the U.Ok. in its present fiscal 12 months, in addition to a “significant quantity” in France and for its Heron Meals grocery store chain.
Nevertheless, analysts at Jefferies flagged that “probably the most notable aspect” of B&M’s outcomes was the absence of a monetary outlook and commentary across the 2025 fiscal interval. They added that the consensus estimates for the corporate’s first-quarter gross sales efficiency are already predicted to be “weak.”
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