B&M European Value Retail SA (LSE:BME) has reported an uptick in first-quarter revenues with ‘strong, profitable trading momentum’ across all three of its businesses.
Total sales rose by 13.5% to £1.32bn in the 13 weeks to 24 June 2023, compared to £1.61bn in the same period last year.
Sales in B&M UK grew by 11.3% to £1.06bn, with both grocery and merchandise categories performing ‘very well’ the company said in a statement.
Heron Foods reported a 19.4% increase to £135mln, while B&M France saw income grow 29.1% to £117mln in the first quarter.
"Our strong trading momentum demonstrates the strength of our unchanged strategy to relentlessly focus on price, product and excellence in retail standards,” commented B&M chief executive Alex Russo.
“The business is well positioned as we start to transition to our autumn-winter season. We will continue to work hard to help all our customers manage the cost-of-living crisis," he added.