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• B&M’s share price was down roughly 17% yr to this point as of writing (16^th July) as a consequence of investor fears over slowing development for the UK’s main discounter. 
• Whereas FY25 is probably going going to be a yr of destructive like-for-like development at B&M’s UK shops, the sky is just not collapsing on the enterprise. In Q1 general group income was nonetheless up 2.4% year-on-year because of new retailer openings, nice buying and selling from B&M France, and Heron Meals persevering with to do properly.
• We have been additionally informed within the Q1 buying and selling replace that gross margins have been robust and the corporate is exiting the summer season months with a clear stock place. That its shopping for groups achieved this regardless of a poor summer season thus far weather-wise factors to the spectacular work in forecasting and buying B&M’s buying managers do. 
• Though free money move goes to proceed decreasing from the height of the lockdown-impacted pandemic years, B&M continues to be recording considerably larger income and money move than it was pre-pandemic. With rising scale and the French enterprise rising shortly and now worthwhile, we’re hopeful that may proceed. 
• At 13 occasions trailing earnings with a trailing atypical payout of three.1% supplemented by pretty common particular dividends, we expect B&M is price contemplating this month.