UK discounter B&M expects full-year profit at top end of guidance

LONDON (Reuters) -British discount chain B&M on Tuesday forecast a 9.8% increase in full-year profit at the top end of its guidance as it reported a 10% rise in revenue helped by new store openings. The FTSE 100 retailer, which sells everything from garden furniture and electrical items to toys and food, said it expected to report adjusted EBITDA, its key profit measure, of 629 million pounds ($782 million) for the year that ended March 30 on revenue of 5.5 billion. The group, whose stock market value of about 5 billion pounds is similar to that of Marks & Spencer, opened 47 B&M UK stores in 2023/24 and plans to open not less than 45 in each of the next two financial years.