- Like-for-like sales up on pre-pandemic levels
- Results in line with analysts’ expectations
The Covid home improvement boom is over. Or at least it is for DIY retail group Kingfisher (KGF), owner of brands including B&Q, Screwfix and TradePoint. Its revenue dipped and pre-tax profit slumped in its results for the 12 months to 31 January thanks to a combination of tougher trading conditions and higher business costs. The downbeat results were in line with analysts’ expectations, and the company said that it is “comfortable with current consensus of sell-side analyst estimates” for next year’s adjusted pre-tax profit to fall a further 16.5 per cent.