Overview

• Revenue for the year to March 29 rose 3.7% to £5.57 billion, driven largely by 70 new store openings including 45 in the UK and 11 in France.
• Pre-tax profit dropped 13.2% to £431 million, weighed down by increased interest and finance costs and a 3.1% fall in UK like-for-like sales.
• Adjusted operating profit slipped 1.8% to £591 million while EBITDA of £619 million exceeded the midpoint of its guidance range.
• Net debt climbed nearly 6% to £781 million as B&M invested in new import and distribution centres to support further expansion.
• Alex Russo retired in April and Tjeerd Jegen will assume the chief executive role in mid-June as B&M braces for higher labour and tax charges.