May 23, 2019 / 6:31 AM / 3 months ago

Britain's B&M profit rises 8.7%, confident outlook

LONDON, May 23 (Reuters) - British discounter B&M European Value Retail reported an 8.7% rise in full-year profit and said it had entered its new financial year with renewed trading momentum.

The company, which trades from around 620 B&M stores and 281 stores under the Heron Foods and B&M Express brands in Britain as well as the Jawoll chain in Germany and Babou brand in France, said on Thursday it made a pretax profit of 249.4 million pounds ($315.4 million) in the year to March 30, on revenue up 17.1% to 3.49 billion pounds.

It said it had made a “pleasing” start to its new financial year with first quarter like-for-like sales up “mid-single digit” in B&M UK fascia stores. ($1 = 0.7908 pounds) (Reporting by James Davey; editing by Kate Holton)

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