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Kingfisher lifts profit guidance as UK strength offsets French weakness, says GlobalData
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Retail Times
B&Q delivered l-f-l growth of 4.4% and Screwfix 3.0%, as gains in big-ticket and seasonal categories offset a decline in core sales (-0.1%).
“Group trade sales rose 11.9% to £1.9bn, to represent 28% of group revenue, and highlighting the success of Kingfisher’s continued investment in building a differentiated trade proposition.
TradePoint achieved sales growth of 6.9% and extended its footprint to 222 B&Q stores, including smaller formats targeting urban catchments.
While CastoPro trade penetration rose to 3.1% (+2.8ppts) and e-commerce grew 32.7%, the consumer environment is still subdued.
Overall, Kingfisher’s adjusted PBT rose 10.2% to £368m, prompting it to upgrade full-year guidance to the upper end of £480m–540m after a strong performance in the UK.
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