BUZZ-B&M: strong maiden FY puts shares near record

** B&M nears all-time high set earlier this month as robust FY shows discount store chain faring well amid food retailers' cut-throat price war

** Group revenues up 29.5%, adjusted PBT up 55.7%

** 52 net new stores opened in UK over period, strong pipeline of further new stores & revised guidance of 60 net new store openings expected for 2016 financial yr

** Trevor Green, head of equities at Aviva Investors, says while LfL figures came in along the lines of what he was expecting the expansion in gross margins was a highlight

** UK gross margin rose by 41bps to 34.4%, reflecting strong sell through of seasonal ranges & increased buying power

** Deep-seated recession-era shopping habits have seen discount retailers - both general merchandise & food - win market share across industry

** Deflation & economic growth have eased pressure on consumers to cut back spend, raising spectre that bargain stores' growth will level off, but B&M's numbers assuage concerns

** B&M up 18.5 pct vs 270p IPO price (June 2014)

** UK discounters include Poundland, Home Bargains, Wilko, Poundstretcher & German discount chains Aldi & Lidl - B&M has flexibility on price vs £ retailers & broad product range, from stationery to gardening products through food, set it apart (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)