Executive Summary

• UK-based mixed-goods discount retailer B&M European Value Retail posted an 18.9% year-over-year increase in revenues in 1H17. Revenues of £1,106 million were in line with the consensus estimate.`fgv
• The top line was driven by new store openings. UK comparable sales nudged up 0.2%.
• Diluted EPS of 5.8 pence was slightly ahead of consensus of 5.6 pence.