Revenues grow but shares fall at value retailer B&M

RETAILER B&M has delivered robust results under its new chief executive following a challenging 18-month period plagued by supply chain difficulties.

- AMBER MURRAY

However, shares still tumbled 13% in early trading, weighed down by worries over margin pressures including price deflation and rising costs.

The FTSE 250 retailer announced this morning that total revenue climbed 4.4% to £1.4bn in the 13 weeks to June 28.

"The company's high valuation multiple increases the pressure to deliver on ambitious targets," said Adam Vettese, market analyst for eToro. "Execution risks around margins and the cost base mean the business needs some more consistent performance and show some adaptability for the shares to track meaningfully higher."