Kingfisher Reports Flat Half-Year Profit

Kingfisher plc, the parent company of B&Q and Screwfix, reported half-year results showing a slight dip in adjusted pre-tax profit to £334 million, reflecting a recovery in the DIY market after a significant decline in 2023. The company tightened its full-year profit forecast to between £510 million and £550 million, citing resilient core category sales driven by home renovation activity, despite a notable 7.2% drop in sales in France. E-commerce sales surged, with a growth of 80%, indicating a shift in consumer purchasing behavior, while operating costs in France decreased by 3%. Kingfisher maintained competitive pricing and disciplined promotional strategies, resulting in a gross margin increase. The company is also accelerating its £300 million share buyback program, with £150 million already completed. Overall, Kingfisher appears well-positioned for growth in 2025, supported by significant cost reductions and market share gains in the UK and Poland.