Kingfisher delivers strong performance driven by strategic progress
Kingfisher has delivered an increase in annual sales and profit following market share gains and standout performances at B&Q and Screwfix.
Total sales rose by 1.3% to £12.9 billion in the year to 31 January while underlying like-for-like sales increased by 1.4% following the success of strategic growth drivers, successful range reviews, and favourable UK spring weather.
Subscribe to TRBAdjusted pre-tax profit climbed by 6% to £560 million, driven by gross margin expansion and cost discipline. Retail profit grew by 4.4% to £734 million while statutory pre-tax profit came in at £378 million compared to £307 million a year earlier.
The group said trade sales now represent 30% of revenue after they increased by 23% in the year.
Looking at Kingfisher’s various retail brands, like-for-like sales rose by 3.3% and 3.2% respectively at B&Q and Screwfix and by 4% and 4.5% on a total basis.
However, the group reported respective like-for-like declines of 2.2% and 2.3% at Castorama and Brico Dépôt in France.
Meanwhile, sales fell by 1.1% in Poland but climbed by 8.8% in Iberia.
Kingfisher said B&Q and Screwfix were standout performers as they benefited from trade and ecommerce initiatives, product innovation, the transfer of customers following Homebase store closures, and strong seasonal sales.
Thierry Garnier, Kingfisher chief executive, said: “We have continued to execute our strategy at pace and delivered good margin and cost discipline.
“This resulted in significant market share gains, profit growth of +13% when excluding last year’s business rates one-off and strong free cash flow.
“Our UK banners led the way, with sales +4% at B&Q and +4.5% at Screwfix. This reflects the growth of our digital ecosystem, increased share of wallet from trade customers and the opening of 34 new stores.”
Kingfisher now expects adjusted pre-tax profit to be in the range of £565 million to £625 million in its current financial year.
Garnier said: “With a mixed consumer environment across our markets, we continue to focus on delivering our strategic priorities, maintaining cost discipline and driving shareholder returns.
“This positions us well to capitalise on the attractive long-term structural growth opportunities within our markets.”
Earlier this month, Kingfisher announced that it is to launch agentic AI shopping on its retail websites as it looks to enhance the customer experience.
