Variety goods discount retailer B&M has reported an increase in group sales during the first half of its financial year.

According to its latest trading update for the 26 weeks to 28 September 2024, total Group revenues increased by 3.7% to £2,644m, driven by volume growth. B&M UK total sales growth improved across the half with 6.0% in Q2 up from 1.5% in Q1.

Group adjusted EBITDA resulted at £274m up 2% (H1 FY24: £269m), with a margin of 10.4% (H1 FY24: 10.5%).

B&M said it plans to open 45 B&M UK new stores this year, with 30 already opened in the first half and will target a similar number of openings next year.

Alex Russo, Chief Executive, said: “Our product ranges across both grocery and general merchandise resonate very well with customers at a time when disposable incomes remain under pressure and the tax burden continues to increase. We have made significant progress over the last three months in general merchandise, particularly in Home, with the range strengthened and prices lowered further to drive volume market share.

“Our new store opening programme is on track and performing exceptionally well. To futureproof this volume growth, I am pleased to announce that next year we will open a new imports centre in Ellesmere Port. This facility will manage inbound container flow and optimise the capacity of our five existing B&M UK distribution centres which are handling ever-growing volumes. This is the right productivity step to support both our short and long-term growth plans, including our target of not less than 1,200 B&M UK stores. We are currently extending our French distribution centre demonstrating the growth plans in place for France.

“Our long-term ambition for the Group remains unchanged, in supporting customers with exceptional value. As we trade through the Golden Quarter, we are encouraged by recent volume momentum and remain focussed on delivering profitable, cash-generating growth for all of our shareholders.”