B&M Q1 Trading Update
B&M has released its Q1 trading update, with results falling below market expectations, leading to a sharp drop in the share price. Is this drop justified?
Overall, the company reported a 4.4% increase in revenue. This included like-for-like (LFL) growth in the UK and France, but negative growth at Heron Foods.
B&M UK:
B&M UK reported a 4.7% revenue increase, with 1.3% being LFL growth and the remainder coming from the opening of 18 gross stores (10 net new stores). The company's goal is to open 45 gross stores.
Despite this, LFL sales for FMCG (Fast-Moving Consumer Goods) products were negative. The company stated it continues to work on improving its FMCG offering. On the other hand, general merchandise products performed well, especially in the Garden, Toys, and DIY categories. In this segment, there was some price deflation during Q1, but the company expects to annualize these average selling price (ASP) effects from Q2 onwards. New ranges being introduced also have a higher bought-in trading gross margin.
B&M France:
Sales grew by 7.6%, with 1.1% LFL growth and the addition of 4 new stores.
Heron Foods:
Heron Foods had the weakest performance of the three segments, with a negative sales growth of 0.4%.
On July 22, the Annual General Meeting approved a share buyback authorization for 10% of the capital.
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B&M Q1 Trading Update
B&M has released its Q1 trading update, with results falling below market expectations, leading to a sharp drop in the share price. Is this drop justified?
Overall, the company reported a 4.4% increase in revenue. This included like-for-like (LFL) growth in the UK and France, but negative growth at Heron Foods.
B&M UK:
B&M UK reported a 4.7% revenue increase, with 1.3% being LFL growth and the remainder coming from the opening of 18 gross stores (10 net new stores). The company's goal is to open 45 gross stores.
Despite this, LFL sales for FMCG (Fast-Moving Consumer Goods) products were negative. The company stated it continues to work on improving its FMCG offering. On the other hand, general merchandise products performed well, especially in the Garden, Toys, and DIY categories. In this segment, there was some price deflation during Q1, but the company expects to annualize these average selling price (ASP) effects from Q2 onwards. New ranges being introduced also have a higher bought-in trading gross margin.
B&M France:
Sales grew by 7.6%, with 1.1% LFL growth and the addition of 4 new stores.
Heron Foods:
Heron Foods had the weakest performance of the three segments, with a negative sales growth of 0.4%.
On July 22, the Annual General Meeting approved a share buyback authorization for 10% of the capital.
We.connect: H1 2025 Revenue
WE.connect has announced revenues of €176.3 million (M€) for the first half of 2025, representing a 45.8% increase compared to the same period last year.
This growth is attributed to the acquisition of MCA TECHNOLOGY in June 2024. Organically, sales have remained stable, which the company considers a success given the challenging economic environment.
New Strategic Acquisition: In its press release, WE.connect also commented on the upcoming acquisition of Exertis France, which is expected to be finalized in the third quarter of 2025. Due to its size, this acquisition represents a change of scale for the company, with Exertis France reporting revenues of €176 million during 2024. Furthermore, Exertis has a presence in Spain, which opens the door for WE.connect to enter the European market.
Toya: Preliminary H1 2025 Results — Beating Expectations
Revenues reached PLN 463.178 million, a 16.4% increase year-over-year.
The gross margin remained at similar levels, experiencing a slight reduction, standing at 33.7% in H1 2025 versus 34% in H1 2024.
Meanwhile, the operating margin increased to 13.5% in H1 2025 from 11.5% in H1 2024. This improvement is due to a favorable Forex impact.
Net profit is set to increase by 34.5%, reaching PLN 49.268 million.
ESAUTOMATION: H1 2025 Revenue and Net Financial Position
Revenues for H1 2025 were €14.1 million, a 6.4% increase over 2024. This improvement is not due to a sector recovery but rather the acquisition of new clients. This growth is particularly positive when analyzed quarter-over-quarter: while Q1 sales decreased by 8%, Q2 sales increased by 24%.
Regarding its financial position, the company has a net cash position of €3.1 million.
The results are very positive. It is worth noting that despite the general downturn in the sector, the company has not lost any clients and has even gained new ones. It is important to remember that due to the nature of the business, the full activation of new client orders requires, on average, approximately one year, due to the necessary phases of implementation, technological testing, commercial validation, and final adoption on production lines.
McBride: Trading Update
Revenue was 0.7% higher than the prior year period on a constant currency basis.
McBride intends to reinstate annual dividends in relation to the current financial year. Details will be announced at the same time as the Group's full-year results on 17 September 2025.