Essential reading for retailers and suppliers in the home improvement market

Kingfisher first half profit exceed expectations

Published: 20 September 2017 - Kiran Grewal

Half-year profits at B&Q and Screwfix parent, Kingfisher have fallen 5.9% to £402 million amid what the company describes as “business disruption” on the second year of its five-year transformation.

Kingfisher made an underlying pretax profit of £440 million in the six months to July 31 - ahead of analysts’ average forecast of £426 million and £436 million made in the same period last year.   

Sales across the company were down by 1.3%

UK retail profit pushed marginally higher, up 1.7% to £215 million for the half year.

Chief executive Veronique Laury said: "Looking across our markets, we have seen solid growth at Screwfix and Poland, offset by continued weaker sales in France and some business disruption, principally reflecting product availability and clearance.”

"We are aware of and are acting on the causes of this disruption, which we are confident will ease.”

"For the full year, we have self-help plans in place to support our overall performance and remain comfortable with full-year profit expectations, though we remain cautious on the second half backdrop in the UK and France."

Sales in France dropped 4.1% to £2.3 billion, with like-for-like sales also down by 4.6%, as it struggled with a slow performance compared to the wider market.

The firm's five-year transformation plan hopes to deliver a £500 million profit boost by the end of 2020/21.

After releasing the first half results, Kingfisher held a press conference to discuss the figures and stated they have reduced their target next year down to 40% from 65%, due to the amount of disruption across the business.

Full report on the results will be in the September 29th issue of DIY Week.


Source: Kingfisher


18 October 2017 07:24:09
bq bob

Company is a shambles under new Ceo and directors experienced staff have left due to disgraceful pay cut to shopfloor staff of nearly £2500, while Ceo gets a rise. But stock on shopfloor constantly out of stock due to mismanagement, door handles a basic of diy shelves are empty and new stock not due till 2018! This Ceo has taken multi millions in pay but has been a disaster on the sales floor.


(Your email address will not be published)
Already Registered?
Sign In
Not Yet Registered?
Printable View E-mail Bookmark

What do you think?

Has the trend for more outdoor heating and lighting products helped extend the window for selling outdoor lines?

Latest reader comments

re: Acana tackles carpet moths with carpet & fabric moth killer and freshener

Stephanie Ferrante
Hello, could someone from customer service call me - I am located in the US and we have a moth/ carpet issue. I am going to purchase this ...

re: Tommy Walsh: 'I'm really proud of my £1 tools'

Gregory ciacci
paint brushes good but paint roller sponge keeps fallinf off as i am painting doesnt help if i am doing big front room wall like i have ...

re: B&Q overhauls kitchen and bathroom sales process

No BQ employees affected - how come???when they're unemployed and losing a wage.....derrrrr...

re: Kingfisher opens first net zero energy store

Guy Eames
well done kingfisher! I’m going to make this store my main diy supply base. Perfect example of where sustainability is a win-win. ...

re: The Range to take over Homebase store in Cardiff

susan way
please can you tell me when the new range will be open on culverhouse cross is please thank you...

Most read stories

Blog and Comment

Dawn of a new age in customer service

Customer service used to be about answering telephones and responding to written requests, but our fast paced, social media driven society ... Read More >>