Kingfisher expects profits at top end of range after strong fourth quarter

B&Q

Home and DIY giant Kingfisher has said it expects full-year profits to be at the top end of its £667m to £742m estimate, following continued strong trading in its fourth quarter.

The retailer said that in the six weeks of the period so far to January 6, 2021, group like-for-like sales were up 16.9%, while ecommerce sales ballooned 150%. 

While Kingfisher noted that sales in November slowed due to store closures and issues in France, growth in December returned, driven by strong results in particular from Castorama and Brico Dépôt. 

The UK and Ireland also performed strongly in the quarter, and Kingfisher said Screwfix is on track to reach £2bn in sales by the end of the financial year. 

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