B&M has reported a 2.4 per cent increase in first quarter revenue as a result of a “disciplined” store opening programme across its three businesses.

In the UK, B&M opened 19 stores and is on track to open 45 by the end of the financial year.

The discount retailer said revenue had risen to £1.34 billion in the three months to 29 June.

While revenue at B&M’s UK business increased by 1.5 per cent to £1.08 billion, like for like sales fell by 3.5 per cent, which the company blamed on unseasonably cold and wet weather in April and May.

In comparison, revenue at B&M France rose by 7.5 per cent to £126 million while revenue at the company’s Heron Foods business rose by 2.7 per cent to £139 million.

Looking ahead, the company said that all three businesses are “well set up” commercially and operationally for the next quarter.

B&M added that it has strengthened its network configuration in the UK over the past two years to support its growth and logistics and is adding additional capacity in France.

“The growth fundamentals of our business are strong, with a highly disciplined approach on pricing, product and high operational standards,” said Alex Russo, chief executive at B&M. “We continue to offer our customers exceptional value at a time when household incomes are under pressure.”

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