Kingfisher raises annual profit outlook on strong first half
European home improvement retailer Kingfisher raised its full-year profit guidance after reporting a 9.9% increase in adjusted profit before tax to £404 million in the first six months to July 31. Total sales rose 0.8% to £6.86 billion.
9% increase for the first half, winning market share in the UK, Poland and Spain. 3 million) in the six months to July 31, driven by gross margin expansion of 70 basis points, cost control and a £14 million business rates refund. 3%. Kingfisher said it gained market share at Screwfix, in Poland and in Spain.
While B&Q and Castorama France held share, Brico Dépôt France's performance was dented by heatwaves. The group, whose shares have increased 22% over the last year, is now forecasting a full-year 2026/27 adjusted profit before tax of £595 million to £625 million, versus previous guidance of £565 to £625 million, and compared to the £560 million it made in 2025/26. "While the consumer environment remains mixed, our consistent delivery, strategic progress and opportunities ahead give us the confidence to upgrade our guidance," CEO Thierry Garnier said.
In May, Garnier resigned after nearly seven years as CEO to become the boss of Netherlands-headquartered supermarket group Ahold Delhaize. He does, however, have a 12-month notice period. com)