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11 November 2021 B & M European Value Retail S.A. FY22 Interim Results Announcement Strong sales and profit growth versus pre - pandemic levels B & M European Value Retail S.A. ( " the Group " ) , the UK's leading variety goods value retailer , today announces its interim results for the 26 weeks to 25 September 2021 . HIGHLIGHTS ● bm ● Group revenues increased by + 1.2 % on prior year to £ 2,268.0m ( + 1.4 % constant currency¹ ) or + 26.8 % on a two - year basis versus H1 FY20 B & M UK fascia² revenue up + 1.3 % on prior year , with like - for - like³ ( " LFL " ) revenues decreasing by ( 5.0 ) % On a two - year basis vs H1 FY20 , LFL revenues were + 16.8 % as sales densities remained significantly higher than pre - pandemic levels Gross margin in the B & M UK business was particularly strong , driven by a change in the sales mix towards General Merchandise and high sell - through across Spring / Summer seasonal ranges leading to limited markdown activity Group adjusted EBITDA4 of £ 282.2m on a pre - IFRS16 basis versus £ 295.6m5 in the prior year , or £ 255.7m in the prior year on a comparable basis when reflecting the voluntary charge relating to business rates subsequently made in H2 FY21 On a two - year basis versus H1 FY20 , Group adjusted EBITDA4 increased + 86.4 % due to higher sales densities and a favourable sales mix Group statutory profit before tax ( post - IFRS16 ) increased + 2.4 % to £ 241.4m ( H1 FY21 : £ 235.6m5 ) and Group adjusted profit before tax4 ( pre - IFRS16 ) decreased by ( 6.2 ) % to £ 238.0m ( H1 FY21 : £ 253.6m5 ) Statutory diluted earnings per share of 19.0p ( H1 FY21 : 18.7p ) and adjusted diluted earnings per share4 of 18.7p ( H1 FY21 : 20.1p ) 14 gross new B & M UK store openings and 9 store closures in H1 FY22 More challenging trading conditions in Heron Foods as average transaction values for grocery shopping normalise to pre - pandemic levels , but satisfactory earnings through careful cost control and cash discipline Strong strategic and financial progress in France , with 100 out of 104 stores trading as B & M and adjusted EBITDA4 of £ 11.4m ( H1 FY21 : £ 2.7m ) Group cash generated from operations was £ 201.7m ( H1 FY21 : £ 403.2 ) , reflecting a strong EBITDA performance and the impact of an earlier build of inventory compared to the prior period Ordinary half year dividend increased by 16.3 % to 5.0p per share ( H1 FY21 : 4.3p ) , to be paid on 17 December 2021 Good stock availability heading into peak trading having deliberately taken delivery of imported General Merchandise earlier than normal , with supply chains across the Group remaining robust