B&M has seen its like-for-like (LFL) revenue grow by 2.8% in December, as the retailer’s overall UK revenue growth for the third quarter increased by 2.8% to £1.38bn.

In the year to date, the firm’s revenue reached just over £3.5bn, which is a year-on-year increase of 3.3%.

B&M’s revenue performance in France, both in the "golden" third quarter and year-on-year, was ahead of the UK, increasing by 12.5% to £164m and 10.2% to £412m respectively.

However, Heron Foods has seen its revenue fall by 5.6% year-on-year in Q3 to £136m, while also dropping by 1.2% to £411m in the year to date.

Chief executive at B&M, Alex Russo, said: “Our performance across the golden quarter reflects disciplined operational execution across our businesses, driving volume and in turn profit growth. The business remains undistracted by the current economic headlines. Our operating model is well set up to give customers exceptional value when they need it most.

"Pricing, availability, store standards and a disciplined opening programme will underpin positive volume growth across our ranges. Our DC logistics network capacity upgrades are on-track in both the UK and France to support long-term growth."

The firm said it is on track to open approximately 73 gross new stores across the group, including Heron Foods, in the 2025 financial year.

It has narrowed its previous profit growth guidance range, with its EBITDA set to be in the range of £620m-650m, while its operating profit is set to reach between £590m-620m.

B&M has also announced a special dividend of 15 pence per ordinary share, equating to £151m, which will be paid to shareholders on 14 February.

Despite this, analysts have noted that these results have not impressed investors.

Investment director at AJ Bell, Russ Mould, concluded: "There is little you could do to dress up value retailer B&M’s quarterly numbers. While hardly a disaster, the negative like-for-like growth in sales reflect poor consumer sentiment and suggest that the chain’s value credentials aren’t doing enough to support demand.

"A £150m special dividend, aimed at keeping investors onside, was largely dismissed as the stock tumbled."

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