Overview
- Kingfisher, which reported full-year results Tuesday, posted adjusted pre-tax profit of £560 million and guided £565 million to £625 million for the new year, and shares rose about 2% in early trading.
- B&Q and Screwfix grew like-for-like sales by roughly 3%, helped by more online orders, a push to serve tradespeople who buy more often, and the takeover of former Homebase sites.
- Sales slipped overseas, with Castorama and Brico Depot in France down about 2% and Poland lower, as demand for big-ticket projects such as kitchens weakened.
- The board approved a new £300 million share buyback after £1.2 billion since 2021 and kept expanding in the UK with 32 new Screwfix stores and 10 new B&Q locations, most from Homebase conversions.
- Coverage diverged on headline sales growth, with some reports citing a 1.3% rise to £12.95 billion and others 0.2%, reflecting different measures of group revenue.