B&M European Value Retail plc (BME) has reported group revenue of £2,848m for the 26 weeks to 26 September 2026, up 3.6% year-on-year, as its 'Back to B&M Basics' strategic programme delivered a return to UK like-for-like sales growth. Statutory profit before tax surged 53.7% to £115m, while group adjusted profit before tax rose 16.6% to £121m. The FTSE 250 value retailer, which operates 797 B&M stores and 339 Heron Foods and B&M Express outlets in the UK alongside 156 stores in France, also introduced full-year FY27 guidance for the first time alongside these results.

Key Points

  • B&M European Value Retail plc (BME), FTSE 250 value retailer
  • Group revenue rose 3.6% to £2,848m in H1 FY27; statutory profit before tax up 53.7% to £115m
  • FY27 guidance introduced: adjusted EBITDA (pre-IFRS 16) of £450m–£500m; adjusted PBT of £280m–£330m; interim dividend of 3.6p per share payable 18 December 2026
  • Investors may be watching early Golden Quarter trading updates and progress on Phase 2 B&M 2.0 store format rollout

UK Like-for-Like Sales Return to Growth with Q2 LFL of +3.2% Under 'Back to B&M Basics'

B&M UK total sales grew 2.4% in the half, with like-for-like sales up 0.4% overall and accelerating to +3.2% in Q2, driven by General Merchandise and an improved FMCG performance relative to Q1. The company states that all four 'Back to B&M Basics' workstreams — sharpening pricing, improving on-shelf availability, enhancing promotions and reducing SKU count — have been fully implemented. Group gross margin expanded 67 basis points to 37.2%, primarily reflecting higher B&M UK General Merchandise category margins and a favourable sales mix. The announcement notes early Q3 FMCG LFL has also turned positive, which the company describes as a further sign its strategic actions are working.

B&M France Delivers +5.9% H1 LFL Growth as Discount Market Share Reaches 9.4%

B&M France continued its strong trajectory, with total sales growing 13.7% and like-for-like sales rising 5.9% across H1, including Q2 LFL of +6.5% delivered off a high comparative base of +9.4% in Q2 FY26. The announcement states B&M France held a 9.4% share of the French discount market at the end of H1, up 100 basis points since the end of FY26 and 140 basis points year-on-year. Nine net new stores were opened in France during the period, bringing the total to 156. The company now expects to open 15–20 new French stores in FY27, revised upwards from earlier guidance of 15, citing a substantial ongoing growth runway in a market it describes as several years behind UK consolidation levels.

B&M 2.0 Concept Store Launched in Wigan as Phase 2 Store Productivity Programme Begins

The group launched its B&M 2.0 concept store in Wigan on 28 August 2026, introducing self-checkouts, a landing zone, wider aisles and a redesigned store flow. The announcement states the Wigan store was named IGD Store of the Month for November 2026. B&M now plans to invest more heavily in store re-lays and refits in H2, funded through internally generated cash, while slowing the pace of UK new store openings to 15–20 gross in FY27, against previous guidance of 25–35 gross, reverting to 25–35 gross in FY28. Post-tax free cash flow for H1 was £132m, compared with £51m in H1 FY26, and net debt fell to £613m from £859m a year earlier, with leverage at 1.3x adjusted EBITDA.

FY27 Full-Year Guidance Introduced Alongside 3.6p Interim Dividend

B&M has introduced FY27 financial guidance, targeting group adjusted EBITDA (pre-IFRS 16) of £450m–£500m, compared with £459m in FY26, and group adjusted PBT of £280m–£330m, against £284m in FY26. The board has declared an interim dividend of 3.6p per ordinary share, up from 3.5p in H1 FY26, payable on 18 December 2026 to shareholders on the register at close of business on 20 November 2026. Investors may be watching whether Golden Quarter trading sustains the Q2 LFL momentum and whether Phase 2 store investment translates into measurable productivity gains across the broader UK estate of 797 stores. Incoming CFO Atheeq Akbar is due to start on 25 January 2027.