Discount retailer B&M is forecasting a a full-year profit at the top end of its guidance after revenue jumped by 10.1%.
The improved performance was partly delivered by new store openings, with adjusted EBITDA of £629m, versus guidance of £620m-£630m and £573m made in 2022/23.
Revenue at B&M UK was up 8.5% year-on-year to £4.4bn.
Alex Russo, Chief Executive, said: "The Group has performed well in the year delivering strong operational execution.
"We serve our customers through a relentless focus on everyday low prices (EDLP), great product ranges and excellence in operational standards.
"This delivers profitable, cash generating growth for our shareholders.
"The business and team are well set up for the year ahead, our pipeline remains on track to open not less than 45 UK B&M stores in each of the next two financial years and our French and Heron businesses continue to demonstrate significant profitable growth potential."
FTSE 100
The UK's flagship share index, the FTSE 100, was down 103-points at 7,862 shortly after opening this morning.
Brent crude oil futures were up 0.38%, trading at $90.44 a barrel.
Companies reporting today
- B&M European Value Retail - Full Year Trading Statement
- Hays - Q3 Trading Statement
- IntegraFin - Q2 Trading Statement
- LVMH - Q1 Trading Statement
- Ninety One - Q4 Assets Under Management Statement
- Oxford Instruments - Trading Statement
- Rio Tinto - Q1 Operations Review
- QinetiQ Group - Q4 Trading Statement