B&M has reported year on year revenue growth of five per cent in the 13 weeks ended 23 December.

The discount retailer’s UK business revenues reached £1.35 billion during the period, a 3.7 per cent rise on 2022, while B&M France saw revenues rise by 11.3 per cent to £151 million.

Overall earnings before tax for the company stood at £573 million.

The results come at a time where B&M is planning to significantly expand its store portfolio in the next two financial years, with 45 new stores planned for the UK and 11 for France.

“Our strategy remains unchanged – we are an everyday low-price discounter with a laser-focus in keeping excellence in retail standards and our costs the lowest,” said B&M chief executive Alex Russo. “This allows us to provide our products at the best price to all customers – many of whom continue to face significant cost-of-living pressures.”

Russo added that the company is well-positioned for the year ahead and anticipates pre-tax earnings to come within its target range of £620 million to £630 million for is 2024 financial year.

B&M previously reported a group revenue increase of 10.4 per cent in the 26 weeks ended 23 September.

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