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Prices & Quotes - UK Markets - B&M European Value Retail S.A. (DI) (BME)

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Share Price:
Up 544.60p
Change Today:
5.40p
Market Cap:
5,450m
Sector:
General 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B&M chief, Simon Arora, also requested an urgent reform of what he termed the "outdated" business rates system, arguing that it was forcing increased job losses across the sector and keeping both his company and other potential occupiers from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 544.60p
Change Today 5.40p
52 Week High 601.00p
52 Week Low 353.20p
Volume 2,688,651
Shares Issued 1,000.82m
Market Cap 5,450m

Performance Indicators

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What The Brokers Say

Strong Buy 9
Buy 0
Neutral 9
Sell 0
Strong Sell 1
Total 19
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BME Dividends

  Latest Previous
  Final Special
Ex-Div 01-Jul-21 14-Jan-21
Paid 06-Aug-21 29-Jan-21
Amount 13.00p 20.00p

Trades for 11-Jun-2021

Time Volume / Share Price
16:55 60,000 @ 544.90p
16:37 94,939 @ 542.39p
16:37 94,939 @ 542.39p
16:35 1,061,750 @ 544.60p
16:29 92 @ 544.60p

BME Key Personnel

CEO Simon Arora
Chair Peter Bamford