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B&M European Value profit misses consensus by 50.2% in fiscal H1

B&M European Value Retail SA said its normalized net income for the fiscal first half ended Sept. 27 came to £20.2 million, compared with a loss of £5.1 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue grew 29.7% year over year to £739.8 million from £570.5 million, and total operating expenses rose 28.0% on an annual basis to £676.9 million from £528.8 million.

Reported net income came to a loss of £21.0 million, or a loss of 2 pence per share, compared to a loss of £9.0 million, or a loss of 1 pence per share, in the prior-year period.