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Kingfisher sales slightly down

Although Q4 sales down, the company expects adjusted full year pre-tax profit to be up over 20% on the prior year.

CITY & CORPORATE

Kingfisher sales slightly down

Although Q4 sales down, the company expects adjusted full year pre-tax profit to be up over 20% on the prior year.

Total Group sales for the 13 weeks to 29th January 2011 were £2,305 million, down 0.1 %.
UK and Ireland sales were flat at £954 million.

Ian Cheshire, Group Chief Executive, said,"We have ended another challenging year in robust shape. Our programme of self-help initiatives has continued to deliver profit growth and higher returns whilst strengthening the business for the future.
 
"Our international businesses delivered strong growth in the final quarter, more than offsetting some weather disruption and a weak market in the UK & Ireland, and so we expect to announce full year profits towards the top end of the range of analyst estimates.*
 
"Looking ahead we will continue with self-help activity in 2011 as we complete our successful Delivering Value plan and start to mobilise the next phase of our development."
 
The preliminary results for the year ended 29 January 2011 will be announced on 24 March 2011.

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