B&M European Value Retail S.A. (LSE:BME) reported interim results for the first half of FY26, delivering a 4% increase in group revenue to £2,749 million. However, the top-line gains were offset by a sharp decline in profitability, with adjusted EBITDA falling 30.2% and adjusted operating profit down 31.5%. Management is advancing its ‘Back to B&M Basics’ programme, aimed at strengthening retail execution and restoring sustainable like-for-like growth in the UK. Ongoing store expansion across both the UK and France continues to underpin revenue momentum, while recent senior leadership appointments are expected to bolster operational capabilities. The group also confirmed that its proposed redomicile would facilitate future share buybacks.
B&M’s outlook reflects solid revenue performance and supportive valuation metrics, reinforced by positive sentiment from the latest earnings call. Even so, bearish technical indicators and financial risks—such as elevated leverage and weakening free cash flow growth—temper the overall picture.
More about B&M European Value Retail S.A.
B&M European Value Retail S.A. is a major discount retailer with a broad footprint across the UK and France. Its estate includes 786 B&M-branded stores in the UK, 344 sites operating under Heron Foods and B&M Express, and 140 B&M stores in France. Listed on the London Stock Exchange since 2014 and a member of the FTSE 250, the company specialises in value-led general merchandise and grocery products.
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