B&M profits slide as discount retailer warns over rising costs

B&M has warned of rising cost pressures in the year ahead as the discount retailer posted a sharp fall in annual profits.
The value retailer, which sells products across grocery, home, furniture and garden, reported a 26 per cent drop in annual profit after flat UK like-for-like sales and deeper price cuts weighed on performance.
B&M said the conflict in the Middle East was adding upward pressure to costs, creating a tougher backdrop for the business as it works through a turnaround plan