Overview
- Kingfisher, which reported half‑year results on Tuesday, upgraded its full‑year underlying pre‑tax profit guidance to £595m–£635m from a prior £565m–£625m range.
- For the six months to July the group recorded underlying pre‑tax profits of about £404m and statutory pre‑tax profits of roughly £400m.
- B&Q posted falling like‑for‑like sales and an especially sharp drop in big‑ticket categories such as kitchens and bathrooms, prompting a comprehensive review of its underperforming bathroom ranges.
- Screwfix posted strong sales growth and the group’s deliberate shift to serve trade customers — who visit more often and spend more — was cited as the key driver behind the upgraded outlook.
- Outgoing chief executive Thierry Garnier remains in post during the succession process, and management said market share is broadly stable while it pursues a longer‑term plan to grow trade sales and adapt stores and ranges to changing shopper patterns.