Discount retailer B&M European Value Retail (LON: BME) has grown its like-for-like sales by more than 30% during November. It is waiving business rate relief from the government.
There will be £80m waived and this will hit forecasts. However, that strong trading has enabled a £60m uplift in expectations. That means that the net effect is a £20m plus reduction in forecast pre-tax profit for this year. The forecast has fallen to £447m with earnings of 35.8p a share, falling by a lower percentage.
First half like-for-like growth in sales was 23% and this growth has accelerated. The fac...
