Kingfisher, a leading retailer in the European home improvement market, recently announced a steady profit for the first half of the year, attributed to a lull in demand for larger, discretionary purchases. Despite this, the firm has uplifted the lower limit of its yearly profit projection. The company, listed on the FTSE-100, owns Britain and Ireland’s B&Q and Screwfix, as well as France’s Castorama and Brico Depot, amongst others.
Kingfisher disclosed on Tuesday an updated pretax profit forecast for the fiscal year 2024/25, now expecting a range of £510 million to £550 million (€605-€653 million). This is a significant increase from its past projection of £490 million to £550 million. The previous year, 2023/24, saw the company securing a profit of £568 million.
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