Kingfisher, owner of the B&Q and Screwfix retail brands, has lifted its full-year 2025 profit guidance after posting profit growth in the first half (H1).
The UK home improvement retailer reported a 0.8% growth in total sales, or 1.9% on a like-for-like (LFL) basis, reaching £6.8bn ($9.1bn) for the six months ending 31 July.
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Statutory pre‑tax profit increased 4.1% year-on-year (YoY) to £338m, while adjusted pre‑tax profit grew 10.2% to £368m.
Gross margin widened by 100 basis points to 37.7%, lifting operating profit 2.1% to £383m.
Free cash flow climbed 13.5% to £478m, while net debt fell to £1.7bn from £2bn.
The interim dividend was held at 3.8p per share.
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By GlobalDataIn the UK and Ireland, sales rose 4.5% to £3.5bn in H1, with LFL sales up 3.9%. B&Q like‑for‑like sales increased 4.4% to £2.2bn, while Screwfix sales grew 3%.
In France, where Kingfisher operates Castorama and Brico Dépôt, LFL sales dropped 2.1% to £2bn.
The group has raised its full‑year outlook, with adjusted pre‑tax profit now expected to be at the upper end of the £480m–£540m range.
Free cash flow is forecast at between 3480m and £520m, up from the earlier projection of £420m to £480m.
Kingfisher will accelerate its share buyback programme and now expects to complete the £300m repurchase by March 2026.
Kingfisher CEO Thierry Garnier stated: “We delivered a strong first half with high quality underlying like-for-like sales growth of 1.9%, driven by increased volumes and transactions. Our teams continue to execute at a high level, delivering double-digit growth in our strategic initiatives, trade and e-commerce, which supported our market share gains. We were encouraged by underlying quarter-on-quarter growth in our core categories, and a third consecutive quarter of growth in big ticket sales.”
