B&M is set to open no less than 45 new gross stores in the UK in the latest financial year, after recording a revenue increase of 10.1% across the group to £5.5bn.

In the year to 30 March, the budget supermarket, which operates stores in the UK and France as well as the Heron Foods brand, saw a group EBITDA increase of £629m. This is a 9.7% jump year-on-year and is in the top end of its guidance range of between £620m-£630m.

In the UK, revenue and EBITDA increased by 8.5% and 12.6%, respectively, while adjusted operating profit increased by 12.4%.

As a result, B&M has announced plans to open 45 new stores in the UK in the 2025 financial year, as it looks to reach its long-term target of operating 1,200 stores.

Currently, it operates 741 stores in the UK after adding 47 in the 2024 financial year.

Chief executive at B&M, Alex Russo, said: "FY24 has been another good year for B&M. The three key components of our business - buying, logistics and retail, are working in balance and we continue to deliver excellent products at everyday low prices to our consumers. We are well set for the years ahead.

"We have demonstrated strong volume-led momentum in our business throughout our trading history and that has continued, driving our profits ahead of both pandemic and pre-pandemic benchmarks."

In its outlook for the rest of the 2025 financial year, B&M said that despite the "more challenging comparatives", it has confidence for cash generation and profit growth.

However, with the Easter weekend taking place in the last weekend of March, the firm said the benefit of this period will not be included in the 2025 financial results.

Head of investment at interactive investor, Victoria Scholar, added: "The company proved itself to be resilient to the macroeconomic twists and turns and cost of living pressures in recent years given its competitive low price point that helped support demand even among the most cash strapped consumers.

"And now the economic clouds are showing signs of parting, with the UK emerging from last year’s short, shallow recession, inflation coming down, interest rates set to be cut and retail spending rebounding last month. There are growing reasons to be more optimistic towards the retail sector which could play well into the hands of B&M.

"After a rocky start to the year for B&M, shares have been regaining ground since the April lows but the stock is under pressure once again today. The analysts remain largely upbeat when it comes to this stock with 13 buy recommendations, four holds and just one sell."

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