Kingfisher has said it is “ahead of schedule” with its new strategy after reporting record profits and sales last year.
For the year to January 31, Kingfisher reported a 33% increase in statutory pre-tax profits to more than £1bn and a 6.8% increase in revenues to £13.2bn.
Gross profits jumped 7.9% to £4.9bn, while operating profits leapt 25% to £1.1bn.
In terms of adjusted metrics, retail profit for Kingfisher was up 17% to £1.1bn “driven by strong growth” in the UK, Ireland and France; adjusted pre-tax profits were up 21% to £949m; and the retail profit margin was up by 60 basis points.
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