Do-it-yourself retail leviathan Kingfisher has revealed details of the next phase of its 'Creating the leader' strategic initiative after announcing results a smidgen above market expectations.
Sales in the year to January 31st rose 3.6%, or 3.3% on a constant currency basis, to £10,831m from £10,450m the year before. Like-for-like (LFL) sales were up 1.3%. The market had been expecting turnover of £10.8bn.
Adjusted pre-tax profit jumped 20.4% to £807m from £670m the year before, slightly ahead of the £801.9m the market had been expecting.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
More details on the results and the group's strategic development plan will follow later on today ...
-
Is Donald Trump's re-election a wake-up call for Europe?Donald Trump will turbocharge the US economy – and expose Europe's weakness
-
German chancellor Olaf Scholz's coalition collapses – what went wrong?EU Economy After Olaf Scholz fired a key minister, Germany's coalition has collapsed. But political turmoil in the country couldn’t have come at a worse time
