Kingfisher raises outlook as profits soar across Europe


DIY giant Kingfisher has recorded rising profits as its ‘Powered by Kingfisher’ strategy drives business changes.

The retailer – which owns British businesses B&Q and Screwfix as well as Castorama and Brico Depot in mainland Europe – reported adjusted pre-tax profits were up 62% year on year to £669m in the six months to July 31.

Sales also grew 22% to £7.1bn in the same period and 23% on a like-for-like basis, driven by strong demand in the home improvement sector.

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