US EditionB&Q Owner Kingfisher Raises Forecast on Strong UK Demand
Kingfisher raised full-year profit guidance after a 10.2% rise in half-year pre-tax profit, driven by 3.9% UK like-for-like sales growth and strong e-commerce performance.
- Kingfisher, a European home improvement retailer listed in London, has increased its full-year forecast for adjusted pretax earnings and cash generation, driven by robust demand in the UK market for 2025.
- This upgrade followed a strong first half with 1.9% like-for-like sales growth, buoyed by B&Q and Screwfix benefiting from Homebase closures and favorable weather.
- Kingfisher reported total sales of £6.81 billion and pre-tax profits of £338 million for the six months to July 31, despite £145 million in cost headwinds.
- Chief executive Thierry Garnier emphasized the resilience of UK consumers and reported a robust performance in the first half, with a 1.9% increase in like-for-like sales reflecting strong underlying quality.
- Kingfisher targets adjusted pre-tax profit of £480 million to £540 million and free cash flow around £480 million to £520 million in 2025-2026, accelerating its £300 million share buyback programme.
14 Articles
14 Articles
perspectivemedia.com
B&Q owner lifts targets as sales boosted by weather and Homebase closures
Kingfisher reported a rise in profits and said they are set to reach the ‘upper end’ of current targets. Home improvement giant Kingfisher has upgraded its profit and cash guidance after it was buoyed by strong UK trading for B&Q and Screwfix. The retail group said B&Q sales were “strong” over the past six months after they benefited from the closure of Homebase stores – following its rival’s administration – and “favourable weather” conditions.…
B&Q owner Kingfisher raises forecast on strong UK demand
European home improvement retailer Kingfisher has today raised its full-year profit outlook after reporting a better-than-expected 10.2% rise for the first half, driven by a strong performance in the UK, sending its shares sharply higher.
Owner Of B&Q Ups Profit Forecast After Positive First Half
Kingfisher, the owner of the B&Q and Screwfix chains, upgraded its profit forecast today after seeing robust demand for new kitchen ranges and garden products amid the good summer weather. Despite wider concerns about the UK economy, the group’s Chief (more…) The post Owner Of B&Q Ups Profit Forecast After Positive First Half appeared first on KamCity.
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