A healthy profits performance by retail group Kingfisher’s British arm for its latest H1 ended 31 July 2016 was driven by activity in Poland and the UK, the firm has announced.
The DIY specialist, which owns the B&Q and Screwfix retail brands in the UK, revealed a 2.7% increase has resulted in sales of £5.75bn for the period, adjusted for the impact of selling its controlling stake in B&Q China last year..
Meanwhile, statutory pre-tax profits rose 10.6% from £386m to £427m.
Discussing the group’s performance, Véronique Laury, chief executive officer, assessed the ‘business as usual’ first half as ‘productive’.
She continued: “Looking longer term, we are starting to build solid foundations to enable us to deliver our five year transformation, which is our key growth driver.
“We are making good progress on our strategic milestones for this first year and we are on track.
“The level on transformation activity will increase significantly, however given the expertise and energy of our colleagues we continue to feel confident about the challenges ahead.”