Shares in B&M European Value Retail (LSE: BME) surged as much as 17% on Tuesday, touching an intraday high of 199.9p, after the discount retailer published its full-year results and reassured investors that its turnaround strategy is gaining traction.
The stock was last trading around 198.7p — up 16.5% on the day — against a previous close of 170.5p, making it one of the standout movers on the London market.
The rally comes despite a year of considerable pain for shareholders. For the 52 weeks to 28 March 2026, group adjusted EBITDA collapsed 25.9% to £459m, with adjusted profit before tax falling 37.7% to £284m. The culprits were lower trading margins, cost inflation, and operational missteps that prompted management to launch its “Back to B&M Basics” recovery plan last October.
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The market’s relief appears rooted in the details. Profits landed at the midpoint of guidance, net debt dropped 15.9% to £656m — bringing leverage back within the company’s 1.0–1.5x target range — and post-tax free cash flow actually grew 3% to £321m. Meanwhile, UK like-for-like sales improved sequentially throughout the year, turning marginally positive in Q4 at +0.1%.
CEO Tjeerd Jegen remained cautious but constructive, calling FY27 “a year of investment” while reiterating confidence that B&M UK can return to double-digit EBITDA margins in the medium term.
A final dividend of 6.1p per share is payable on 31 July 2026.
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