Strong First Half Results
Kingfisher reported total sales of GBP 6.8 billion, with like-for-like sales up 1.9%. Adjusted profit before tax increased by 10.2% to GBP 368 million and adjusted EPS rose by 16.5%. Free cash flow generation was GBP 478 million, a 13.5% increase.
Strategic Growth Initiatives
The company's strategic growth initiatives are driving market share gains, evidenced by double-digit growth in both trade and e-commerce sales. The company has raised its profit and free cash flow guidance for the full year.
Impressive Trade Growth
Trade now represents 28% of group sales, with TradePoint at B&Q accounting for 22.4% of total B&Q sales. Trade sales grew by 11.9% in the half.
Digital Ecosystem Expansion
Kingfisher continues to expand its digital ecosystem with a focus on e-commerce, marketplace, and retail media, enhancing customer engagement and profitability.
Screwfix France Performance
Screwfix France reported strong like-for-like growth of 52% at the store level, with 74,000 unique customers, a 30% increase year-on-year.