B&M European Value Retail S.A have announce a final ordinary dividend of 9.6p per share will be paid on 2 August 2024 to shareholders on the register of the Company at the close of business on 28 June 2024. The ex-dividend date will be 27 June 2024.
Other financial highlights include:
Group revenues increased by 10.1% to £5.5bn (+10.1% constant currency), or 7.8% excluding the 53rd week
All fascias delivering volume growth through both positive like-for-like ("LFL") customer transaction numbers and new space growth
Group adjusted EBITDA (pre-IFRS 16) of £629m and margin of 11.5% (FY23: 11.5%) is a 9.7% increase year-on-year and is at the top end of the Group's guidance range of £620m-£630m
Group adjusted operating profit increased 10.9% to £614m (FY23: £554m), with volume driven profit growth and strong cost control across the three businesses
Strong post-tax free cash flow of £382m (FY23: £464m) with a disciplined approach to inventory management - Group inventory of £776m (FY23: £764m)
Statutory operating profit of £607m (FY23: £536m) and statutory profit before tax of £498m (FY23: £436m)
Opened 78 gross new stores across the Group (47 in B&M UK, 20 in Heron Foods and 11 in B&M France)
Net debt to adjusted EBITDA (pre-IFRS 16) leverage ratio of 1.2x (FY23: 1.3x). Net debt including leases to adjusted EBITDA (post-IFRS 16) 2.4x (FY24: 2.5x)
