Kingfisher, owner of B&Q and Screwfix, reports a 25.1% drop in annual profits to £568m for the year ending January 31.
Kingfisher, owner of B&Q and Screwfix, has reported a 25.1% drop in annual profits to £568m for the year ending January 31. This marks a significant decline from the previous year's £758m. Like-for-like sales in France fell by 5.9%, while sales across Europe dropped by 7.7%. However, the UK and Ireland markets saw a 0.8% increase in sales, mitigating the overall group-wide sales decline to 3.1%. Kingfisher has projected an adjusted profit of around £490m to £550m for the current year, below the predicted £560m.
March 25, 2024
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