Strong Cash Flow and Shareholder Returns
Free cash flow was strong at £511 million. The company returned £453 million to shareholders via dividends and share buybacks, up 14% on the previous year. A new £300 million share buyback program was announced.
Improvements in Gross Margin
Gross margin increased by 50 basis points to 37.3% compared to the previous year, driven by structural actions and better negotiations with suppliers.
Market Share Gains in Key Regions
The UK & Ireland businesses delivered market share gains with B&Q, TradePoint, and Screwfix all contributing. Poland also saw market share gains with a 3.2% increase in total sales.
Successful Trade and E-commerce Initiatives
TradePoint sales now represent 23.4% of B&Q sales, and e-commerce sales across B&Q and Screwfix were up significantly. The group plans to reach 30% e-commerce penetration.
Cost Management and Structural Savings
The company delivered £120 million in structural cost savings, with additional programs underway to unlock further savings.