B&M posts half year drop in profits


B&M posts half year drop in profits

B&M hs posted statutory pre-tax profits of £201m for the six months to September 24th, 2022 which was down from last year’s £241m – even though total group revenue had increased to £2.309bn from £2.258bn.

CEO Alex Russo said: “Sales momentum is good as we enter a difficult period for the economy and consumers.

“We are well positioned as we trade through the golden quarter and our strategy remains unchanged – a relentless focus on price and product.”

Russo recently assumed the CEO role at B&M following the retirement of Simon Arora. He said: “I would like to personally thank Simon Arora for his leadership of B&M. He and his brother Bobby have built an exceptional business and the team will continue to build on Simon’s legacy.”

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