B&M enjoys bumper half

Discount chain B&M European Value Retail (BME) has upgraded its earnings guidance and accelerated its store roll-out scheme after a strong six months of trading. It now expects to achieve adjusted Ebitda of £620mn-630mn in the year to March 2024, up from £573mn last year. Meanwhile, it is now targeting a total UK store count of 1,200, compared with a previous long-term target of 950.