News article

Kingfisher posts Q3 retail profit

Kingfisher posts Q3 retail profit
//
Kingfisher has posted a retail profit of £227 million for the third quarter of the year.

The firm, which owns B&Q and Screwfix stores in the UK, exceeded analysts' predictions with its results for the 13 weeks to October 21st.

According to a poll conducted by Reuters, the general consensus on the stock market was that the figure would be between £204 million and £225 million.

The news caused a slight rise in Kingfisher's value on the stock market, with the firm's shares having climbed 0.93 per cent to 238.2p at 11:20 GMT.

It said that the majority (£126 million) of its retail profit came from its operations in France - where it owns the Castorama and Brico Depot chains - and chief executive Ian Cheshire stated the firm is "clearly benefiting from [its] long-established international strategy."

He added that its performance over the course of the three months - where total sales climbed 2.4 per cent in constant currency - was "strong".

Posted by Greg SeckerADNFCR-1681-ID-19493079-ADNFCR