B&M European Value Retail (LSE:BME) shares climbed 14.6% to 195.3p after reporting full-year (FY26) results for the 52 weeks to 28 March.
Group revenue increased 3.6% to £5,775m, or +3.4% on a constant currency basis, adjusted profit before tax was £284m down from £455m. Statutory profit before tax was £227m, which included a £36m impairment charge versus £3m in FY25.
“FY26 was a difficult year that saw profits fall due to a challenging market and execution issues,” Tjeerd Jegen, Chief Executive Officer.
"We launched our Back to B&M Basics plan in October to restore like-for-like sales growth at B&M UK, which was flat overall versus FY25 while showing sequential improvement.
Jegen added: "The past six months has seen us sharpen our pricing, improve on-shelf availability in best-selling brands and revamp our in-store promotions."
The bargain retailer opened 64 gross stores (33 net) across the estate, including 41 gross (22 net) in B&M UK. Total sales increased 2.9%, albeit like-for-like sales were broadly flat (-0.1%), though B&M said French stores grew total sales by 13.4%, with 2.9% growth in like-for-like.
Free cash flow amounted to £321m, and net debt fell to £656m.
B&M said it will issue guidance with the release of its FY27 Interim results.
