Kingfisher half-year profits fall as B&Q sales suffer

BandQ sign

Kingfisher has recorded a fall in profits as the UK registers a ‘disappointing’ sales performance exacerbated by B&Q range changes and weak consumer confidence.

The home & DIY group reported a 12.5% decline in statutory pre-tax profit to £245m in the six months to July 31, down 6.4% to £353m on an underlying basis.

The retail group’s sales fell 0.8% on a constant currency basis to £6bn during the period, down 1.8% in like-for-like terms as strong sales across Screwfix, Poland and Romania were offset by a “disappointing” sales performance in the UK and France.

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