Kingfisher reports a 1.1% sales drop, citing budget uncertainties, despite Screwfix's 4.6% sales growth.

Kingfisher, parent company of B&Q and Screwfix, reported a 1.1% drop in third-quarter sales, citing weak consumer demand in the UK and France due to budget uncertainties. The company now expects annual pre-tax profits between £510m and £540m, down from £510m to £550m, due to increased employer national insurance costs and a £14m hit from French tax changes. Despite these challenges, Screwfix sales grew by 4.6%, and the company remains focused on strategic priorities and cost management.

November 25, 2024
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