B&Q owner lifts profit forecast amid strong demand for kitchens | Kingfisher

The owner of B&B and Screwfix increased the profit forecast after notifying new demand for new kitchen ranges and good summer weather.

Kingfisher, who runs DIY stores throughout Europe, including Castorama and Brico Dépôt France in France, has increased 1.9% sales until July 31, six months.

While B&Q reported a comparable sales increase of 4.4%, Screwfix contributed to a 3% growth and said that tendencies in France and Poland improved in Retailer France and Poland. In general, the profit before the taxed tax increased by 10.2% to 368 million pounds.

Kingfisher CEO Thierry Garnier said that the sale of large ticket products such as kitchens and bathrooms grew in the third quarter in a row. Kingfisher is now selling three -priced kitchen to expand customer attractiveness – select and signature. Kitchen installations in B & Q increased by 36% annually.

The company also greeted solid sales growth in seasonal products, including garden accessories, outdoor paint and plants due to good weather in the UK.

Garnier said, while our expectations for our markets for the year, the sense of mixed consumer and political uncertainty, it continues to be consistent with what we mentioned in March, ”he said.

“With our first half performance, this gives us confidence in raising our full -year wife and free cash flow guidance and accelerating our share reproach.”

Kingfisher is now targeting the upper end of the full -year snow range of £ 540 million to £ 540 million.

However, the extra cost of £ 145 million from wage inflation increased the higher British employer’s national insurance contributions, social taxes in France and marked due to new packaging fees in the UK.

With higher gross profit margins and cost saving measures, it expects to fully balance them, and also takes advantage of a one -time business rate of £ 33 million in the UK.

Stocks in Kingfisher increased 17% in early transactions in London on Tuesday.