Liverpool-based B&M European Value Retail said on Wednesday its profit before tax fell 13.2% to £431 million “impacted by increased interest and finance costs” in the 52 week financial reporting period to March 29, 2025.
B&M said group revenues increased 3.7% to £5.6 billon “primarily driven by the contribution from new stores.”
Full year dividend will be 15p per share (2024: 14.7p) in addition to the 15p special dividend paid in February 2025 (FY24: 20p).
“In FY25, the Group’s sales performance, particularly within the B&M UK business, was below expectations amid challenging market headwinds,” said B&M, as its shares fell as much as 11%.
“However, the Group’s overall profit delivery remained resilient, particularly in comparison to its longer-term history …
“The Group’s financial model is built on consistent, strong cash generation and disciplined capital investment that supports the continued store expansion and investment in infrastructure.
“With an adjusted return on capital employed of over 30%, last year the Group returned £300m and over the last five years the Group has driven the return of £2.1bn to shareholders through ordinary and special dividends, while maintaining a conservative leverage ratio of 1.26x.
“Continued progress was also made against strategic priorities, positioning the business well for the future, including by driving store standards and availability, maintaining the Group store opening program, and expanding distribution capabilities, all of which are fundamental to better serving our customers and positioning the Group to drive growing returns for shareholders in future.”
On May 15, B&M announced the appointment of Amsterdam-based Tjeerd Jegen as its chief executive officer, and said it has applied for the necessary UK Visa and related work permits for Jegen.
Jegen will take over from Mike Schmidt, currently interim CEO, on June 16, 2025. Previous CEO Alex Russo left B&M on April 30, 2025.
B&M is based in Liverpool and has been registered in Luxembourg — but the firm is moving its domicile to Jersey.
“Redomicile process, which will simplify administrative processes and enable greater flexibility in returning capital to shareholders, including through share buybacks, is progressing to plan,” said B&M.
“Process now focused upon redomicile to Jersey and expected to complete within the calendar year, subject to the necessary regulatory and legal clearances.”