British DIY group Kingfisher is raising its profit forecast for the current fiscal year, following a strong first half at B&Q and Screwfix. In France, Castorama and Brico Dépôt are slowly recovering.
Big-ticket sales are back
Underlying group sales rose 1.9 % to 6.81 billion pounds (8 billion euros), while adjusted profit before tax rose 10.2 % to 368 million pounds (430 million euros). Gross margin improved 100 basis points to 37.7 %, thanks to sharper sourcing, more efficient inventory management and growth in e-commerce marketplaces and retail media.
