Final Results - Year Ended 29 January 2000

Kingfisher PLC
22 March 2000



            Preliminary results for 52 weeks ended 29 January 2000



                      2000      2000       1999       Change %
                    Euro m**     £m         £m
                                         
Turnover            16,720    10,885.0    7,457.8     +45.9%
Retail Profit*       1,162       756.7      554.3     +36.5%
Pre-tax Profits*     1,127       734.0      584.7     +25.5%
Net operating cash                                 
flow                 1,327       863.8      698.3     +23.7%
Property                                           
revaluation                                        
surplus                218       142.0       58.4       -
Capital investment   1,255       816.8      743.6      +9.8%
Net debt             1,568     1,020.8      693.4     +47.2%
Gearing                           33.1%      26.5%     
Earnings per share                                 
(p)*                                               
  Pre e-commerce                                   
  and other new                                    
  channel                                          
  development                     32.8p      30.3p     +8.5%
Earnings per share                                 
(p)*                                               
  Post e-commerce                                   
  and new channel                                   
  development                     31.5p      30.1p     +4.7%
Dividends                                          
  (per share) (p)                 14.5p      13.0p    +11.5%


* before exceptional items and acquisition goodwill amortisation
** £1= Euro 1.5361


*    Highest Ever Sales and Retail Profits
*    Strong Underlying Growth
*    Group Margins Maintained
*    Record New Store Openings
*    E-commerce Strategy Announced
                                       
Kingfisher, the European retailer, today reported its highest ever  sales  and
retail  profits,  a  record  number  of new  store  openings  and  accelerated
investment in other key areas.

Turnover at £10.9 billion was ahead by 45.9% and the retail profits earned  by
the three retail sectors grew by 36.5% to £756.7 million.

The   Group  maintained  its  overall  gross  profit  margins.  All  its  core
businesses, B&Q, Castorama, Comet, Darty, Superdrug and Woolworths,  increased
their cash gross profits.

Pre-tax  profits  were  strongly ahead by 25.5%  at  £734  million  despite  a
strengthening  of  Sterling, which reduced profits  by  £14  million,  and  e-
commerce costs of £23 million.

Both turnover and pre-tax profits benefited from annualisation of acquisitions
made  last year and this year.  Turnover benefited by £2.56 billion, and  pre-
tax  profits by £146 million.  Like-for-like sales for the Group overall  grew
by 5.1%.

Cash  generation continued to be very strong, enabling the Group  to  increase
its  capital investment programme to a record level of £817 million.  The full
year  dividend  of  14.5p,  up 11.5% on last year, is  covered  2.1  times  by
earnings.

Kingfisher's Chief Executive Sir Geoffrey Mulcahy said:

'This  was  a year of strong growth driven by several key factors.  Underlying
growth  was  strong with like-for-like sales increasing 5.1%;  we  achieved  a
record  store  expansion  programme with 120 openings;  the  benefits  of  the
integration of Castorama and B&Q started to flow through; our global  sourcing
operations  made  a  significant contribution  and  we  expanded  in  our  new
markets.'

He  continued:  'The other major factor contributing both to  our  growth  and
margin  control,  was the impact of Every Day Low Pricing (EDLP)  in  B&Q  and
Comet, complementing similar policies in Darty, BUT and Brico Depot.'

'Customers,  our research has shown us, want above all else, EDLP from  brands
they can trust, and this is supported by the performance of these brands.  All
of them have increased volume, profits and like-for-like growth.

'EDLP  enables  us to cut down on the very significant cost of promotions  and
associated advertising and to cut out store discounts.  By smoothing  out  the
peaks  and  troughs of sales we can work closely with our suppliers,  who  are
therefore able to organise their businesses more effectively.

'These efficiencies, allied to the strength we gain from having leading retail
brands  and  our  scale, mean we have the right economics both  to  drive  our
businesses for volume and control our margins.'







Highlights Of The Year
                                       
Backing Success - New Store Openings at Record Level

Kingfisher  opened a record 120 new stores during the year.  This is  in  line
with the company's strategy of strengthening its core brands.  There were  two
new  formats  launched  -   the  innovative Comet  interactive  stores,  which
achieved  immediate success, and the Big W stores.  With their  massive  range
and  depth of product Big W has become a general merchandise destination store
bringing a new dynamic to the market and Kingfisher sees the potential  for  a
chain  of  100.   This  year Kingfisher will accelerate  its  store  expansion
programme at an even faster rate with over 160 openings.

Sourcing Benefits Flow Through

During  the  year the Group's Far East sourcing operation based in  Hong  Kong
substantially  increased in size and a new office will be opened  in  Shanghai
this   year.   Kingfisher  Electrical's  central  sourcing  operation,   which
increasingly sources for all of Kingfisher's electrical businesses,  was  also
strengthened.

Sourcing  cost  reductions  of £29 million were achieved  through  our  global
sourcing  activities of which over £15 million related to DIY,  exceeding  our
sector target.

Further Growth in New Markets

Kingfisher  achieved further growth in new markets.  Store openings  included:
the first B&Q in China, two new B&Q's in Taiwan, five Castorama stores and two
NOMI  stores in Poland. During the current year it is planned to open a  total
of  29  further  DIY  stores including openings in China, Taiwan,  Poland  and
Brazil.  Since the year end Kingfisher has announced its move into the Turkish
DIY market.

Kingfisher announces Strategy for Rapid Growth in e-commerce

Kingfisher  today  announces plans for the rapid growth  of  its  existing  e-
commerce activities and the development of new businesses.

In  the  year, Kingfisher invested in LibertySurf jointly with Group  Arnault.
The value of Kingfisher's stake following last week's IPO is currently over £1
billion.

Other  activities  which have been operated as adjuncts of  Kingfisher's  main
businesses,  such as B&Q and Comet, will become separate entities  with  their
own  dedicated  management  teams.  There will be five  discrete  units,  each
capable of being externally financed and floated in the future.

The five units will be grouped into a new sector, e-Kingfisher, which will  be
headed by a Chief Executive, who will be on Kingfisher's main board.

The  five  units  will be: DIY; Electricals; Woolworths (also responsible  for
entertainment); Health and Beauty; and e-Kingfisher Investments.  The  overall
objective  for  e-Kingfisher will be to achieve substantial and  rapid  growth
following a three pronged strategy.

Firstly,  to  extend the current brands' businesses by using the internet  and
other  new  channels to offer more products to more customers.   Secondly,  by
using  the Kingfisher brands as the basis for launching new initiatives across
Europe  including: a 'home' portal, offering a wide range of products for  the
home; a health and beauty portal; and a DIY trade Business to Business portal.
Thirdly,  e-Kingfisher  will invest in new businesses where  it  can  leverage
Kingfisher's skills and assets.

Sir  Geoffrey  said: 'During the year we have been preparing the  way  for  e-
Kingfisher  taking  all  our  main  businesses  on-line  and  developing   our
infrastructure.   Excluding the £83.7 million investment in Screwfix,  the  e-
commerce and mail order company, we invested a little over £50 million in this
area,  with a P&L impact of £23.3 million.  This year we plan to step up  that
investment  to  an amount expected to be around £60 million with  about  half,
excluding our share of LibertySurf losses, impacting the P&L.

'As  e-commerce  moves  towards  volume  sales  Kingfisher's  scale,  sourcing
capability and brand strength become relevant and a major advantage  providing
us with a unique opportunity for rapid and substantial new growth.'

Kingfisher also announced today that it is taking a minority stake  in  an  e-
commerce  company,  ThinkNatural.com,  which  focuses  on  health  and  beauty
products.

Kingfisher said it would hold an analysts' seminar in late May/early June when
it would give further details about its e-commerce strategy.


Outlook

Sir  Geoffrey said: 'Sales in the current year are showing encouraging growth.
Looking  ahead with the growing strength we are gaining from our international
activities, our successful brands and the important innovations I've outlined,
I am confident that Kingfisher is on course to sustain future growth.'











                                       
                           SUMMARY RESULTS BY SECTOR
                                       
SECTOR             Retail sales (£m)          Retail profit (£m)
                                      %                        %
                 2000     1999     change     2000    1999   change
DIY            4,528.3   2,055.4   120.3     372.6   191.1    95.0
               
ELECTRICALS    3,188.0   2,458.1    29.7     197.0   173.4    13.6

GENERAL                                                 
MERCHANDISE    3,065.5   2,840.9     7.9     187.1   189.8    (1.4)

*KINGFISHER                                             
TOTAL         10,781.8   7,354.4    46.6     756.7   554.3    36.5

 * Retail sectors only, excludes property, financial services, e-commerce and
   other new channels, acquisition goodwill amortisation and other operating
                                    costs.
                                       
                                       


                              OTHER YEAR-END DATA
                                       
SECTOR           Store            Selling space          Employees
                 nos.                                      (FTE)
                          (000s sq.ft.)   (000s sq. m.)       
DIY              506        32,521          3,020.8        38,863

ELECTRICALS      733         8,884            825.5        23,760

GENERAL                                                  
MERCHANDISE    1,584         9,177            852.7        25,933

KINGFISHER                                               
TOTAL          2,823        50,582          4,699.0        88,556

                                       
                                       
                                       
DIY SECTOR


                  £m Sales          %      £m Retail Profit      %
   Company     99/00     98/99   change     99/00    98/99    change
    B&Q*      2,312.3   1,908.4    21.2     224.7    188.7     19.1
 CASTORAMA**  1,717.1     118.3     N/A     129.1      4.2      N/A
  Other***      498.9      28.7     N/A      18.8     (1.8)     N/A
    Total     4,528.3   2,055.4   120.3     372.6    191.1     95.0

*   B&Q includes all B&Q UK operations plus a 6 month contribution from
    Screwfix
**  Castorama figures relate to Castorama domestic French operations only
*** Includes all  DIY activities outside of France and the UK.  Nomi's
    results are for the 13 months to 31 January 2000, B&Q China and B&Q Taiwan
    for the 12 months to 31 December 1999.





*  Good Profits Performance
*  Further  Strong Growth Prospects
*  B&Q/Castorama Integration Progressing


The  DIY sector achieved a strong performance, aided by the continued strength
of  its  main markets.  In the UK, the RMI market grew by 7.0% in 1999  whilst
the French DIY market grew by 4.1%.  Sales for the sector were ahead 120.3% at
£4,528.3  million,  with  profits of £372.6 million.   On  a  proforma  basis,
assuming  Castorama had been included for the whole of 1998/99,  the  sector's
profits would have increased by 18.4%.

In  terms of the integration of B&Q and Castorama, we have successfully worked
on  sourcing  cost  reductions which have resulted  in  net  benefits  of  £15
million.   These  have been incorporated in the individual companies'  profits
for the year.  We now have cross-business groups addressing a number of areas,
including  format  development,  sourcing,  logistics  and  expansion  in  new
markets.

UK

B&Q maintained its strong growth record, sales increasing by 21.2% to £2,312.3
million,  another  year of market share gains.  Profits were  ahead  19.1%  at
£224.7 million.

In the last two years, the B&Q Warehouse opening programme has contributed 67%
of  the  total sales growth.  Fourteen new Warehouses were opened  during  the
year.   Included in the opening programme were conversions of three ex-Dickens
stores,  two former CRS outlets and the reopening of the Leicester  Warehouse.
At  the  year  end  there  were  48 Warehouse outlets  open.  Warehouse  sales
accounted  for 37% of the B&Q store sales for the year, with almost two-thirds
of the Warehouse stores achieving annualised sales of over £20 million.

In  the  current year B&Q plans to open a further 12 Warehouses,  bringing  it
closer  to  its stated objective of a total of 125, and also plans to  open  a
further  three Supercentres.   Overall B&Q will add around one million  square
feet of selling space by the year end.

Like-for-like  sales for the B&Q chain were ahead 8.6%, the  key  elements  in
this  growth  being  a focus on reducing prices, driving volume  through  best
sellers  and  continued range innovation, including the introduction  of  'B&Q
Value',  an entry price-point range.  A particular feature in the second  half
of  the year was the growth in basket size with an increased average number of
items  purchased  and an increased average item value.   This  was  driven  by
improved stock availability and great prices on highly visible lines  such  as
power tools.

Included in the B&Q figures is a six month contribution from Screwfix.   Since
its  acquisition  in  July,  the  performance of  Screwfix  has  significantly
exceeded  expectations,  with  sales at  £32.9  million  for  the  six  months
representing an annualised increase of over 100%.


France

Castorama in France achieved sales growth of 6.5%, and increased like-for-like
sales  by  4.4%, driven in particular by a strong performance by  Brico  Depot
which  achieved a sales increase of 30.7% and like-for-like growth, driven  by
the  increase in the number of transactions, of 16%.  During the year one  new
Castorama  France  store  was opened and there were  two  extensions  and  one
relocation.  In  the  current year it is intended to transfer  five  Castorama
France stores to Brico Depot and to trial a Warehouse format, this opening  in
the  second half of the year.  During the year one new Brico Depot  store  was
opened  and two stores were refurbished. In the current year it is planned  to
increase the number of Brico Depot stores by 12, including the five that  will
be transferred from Castorama France.


Other

Outside  of the UK and France, the DIY sector's activities have grown  rapidly
during  the  year.    The  number of stores trading increased  to  67.   Sales
increased  to  £498.9  million,  partly as a  result  of  the  acquisition  of
Castorama.   B&Q's  first store was opened in China and  a  further  store  is
planned  to  open in Shanghai in June 2000.   In the current year  B&Q  Taiwan
plans to open four new stores.

In Poland, Castorama, which opened five new stores during the year, taking the
total  to eight, more than doubled its sales and profit.  In the current  year
Castorama plans to open a further three Polish stores.  The NOMI business,  in
which Kingfisher increased its stake to 75% in December 1999, suffered adverse
trading conditions in the first half of the year but saw strong growth in  the
final quarter. A new format store has been developed and successfully launched
and  will be rolled out in new stores and rolled back into the existing chain.
There  are six new openings planned for the current year, taking the total  to
30 stores by the year end.

Good progress was achieved in Italy where one new store was opened during  the
year,  taking  the  total to 10 stores.  In Canada, Reno Depot  announced  the
planned  opening of seven new stores in the current year, three in Quebec  and
four  in  Ontario, taking the total to 17. Other developments planned for  the
current  year include expansion in Brazil and a further two new store openings
in Italy.

Since the year end two further developments have been announced.  In February,
Kingfisher  (through B&Q) acquired a 22.5% minority stake in  Virtueller  Bau-
Markt  AG,  the  operator of heimwerker.de, the leading German DIY  e-commerce
business.  Also,  in  February, it was announced that B&Q  International  will
enter the Turkish market in a joint venture with the KOC group, Turkey's  most
important conglomerate.  From an initial five stores it is planned to reach  a
total of 30 stores by the end of 2004, and over 60 stores by the end of 2009.



NOTE:   The  results include the first full year contribution from  Castorama.
At the time of the merger of B&Q with Castorama, Kingfisher took a 57.9% stake
in the enlarged Castorama group, fully consolidating its figures and reporting
a  minority  interest  for the share of the business  not  owned.   Since  the
merger,  following the exercise of share options in Castorama, the  stake  has
reduced to 56.6%.

Castorama,  which  retains  its separate listing  on  the  Paris  Bourse,  has
reported  separately  under French Accounting Standards its  results  for  the
thirteen months, having changed its year end to January from December to  come
into line with Kingfisher.

Castorama's  results as reviewed here do not include B&Q and  cover  the  year
ended  31st  January 2000.  The figures are restated under UK GAAP,  the  main
impact of which is the reversal of property depreciation, partially offset  by
the reclassification of certain exceptional charges against operating profits.

Although  Castorama was owned for only one month in 1998/1999, on  a  proforma
basis sales growth in the year reported would have been 9.3% and like-for-like
sales  growth  would have been 4.6%, both figures stated at constant  exchange
rates.

On  the  same  proforma  basis Castorama's profits rose  by  18.8%  to  £148.4
million.













ELECTRICAL SECTOR


                £m Sales           %      £m Retail Profit      %
 Company    99/00      98/99     change   99/00     98/99    change
  Darty   1,162.5     1,123.8     3.4     125.9     115.1     9.4
  Comet     982.0       862.4    13.9      38.6      33.4    15.6
 *Wegert    541.0       253.0     N/A      (1.0)      7.5     N/A
  **BUT     329.6        80.3     N/A      38.2      15.0     N/A
  Other     172.9       138.6     N/A      (4.7)      2.4     N/A
  Total   3,188.0     2,458.1    29.7     197.0     173.4    13.6

*  1998/99 includes 6 months to 31 December 1998 and 1999/00 includes 12
   months to 31 December 1999
** 1998/99 includes 9 months associate retail profit at 26% to 24 September
   1998 and 3 months as a subsidiary to 31 December 1998 and in 1999/00
   includes 13 months' subsidiary turnover and retail profits to 31 January
   2000



*    Sector Structure Delivering Benefits
*    Further European Expansion
*    Revitalised Comet Delivers Strong Growth
*    Darty Grows Strongly In PCs and Mobile Phones

The sector overall achieved sales growth of 29.7%, to £3,188 million,
reflecting both the renewed organic growth during the year, with 49 new stores
opened, and the significant impact of the acquisitions made in 1998/99 in
France and Germany.  Like-for-like sales growth for the sector was 5.0%, while
on a proforma basis all store sales growth was 12.9%.

Strong growth was achieved in mobile phones, multimedia and, increasingly,
digital products, despite price deflation remaining a feature of electrical
retailing, particularly in brown goods.

Electrical sector profits increased by 13.6% to £197 million.    Own brand
development remains an important part of the sourcing strategy and the PROline
own label brand was introduced to all sector formats during the year, as well
as being sold through Woolworths.  In the current year, it is planned to
achieve sales of PROline in excess of £200 million.

France

Darty  achieved sales growth of 8.7% in the year overall which after  exchange
translation reduces to 3.4%. Like-for-like growth in local currency was  5.8%.
Profits  in local currency terms increased by 14.6% to FF 1,269.4 million  and
in Sterling terms were 9.4% ahead at £125.9 million.

The main drivers of sales growth were strong performances in mobile phones and
PC's and Darty again increased its market share in both areas.

In  the  year Darty opened 10 new stores, taking the total to 173 at the  year
end, and refurbished a further 10 stores.  In the current year Darty plans  to
open  eight new stores and refurbish another 20.  Over the course of the  next
five  to  seven years it is intended to increase the number of  outlets  to  a
total of 240 in France.

BUT,  the furniture and electrical retailer, in its first full year as a Group
subsidiary, achieved sales growth of 15.0% and a profits increase of 10.0%  in
local  currency.   Like-for-like sales growth of 5.8% was  driven  largely  by
strong demand for furniture in a market which was ahead only 1.0%.  During the
year EDLP was introduced in two of the three main furniture categories, and is
planned  to be extended to the third category in the current year.   The  year
also  marked the roll-out of the new concept store, first launched in  Fresnes
in  January 1999, with this format being applied to the new store openings  in
Albi,  Amiens, and Blois.  Space expansion included the opening of these three
new  stores  and  the purchase of five stores operated by franchisees.   Other
initiatives  undertaken  during the year included: a new  promotion  campaign,
reflecting  the  image  of the new concept stores; the extension  of  the  BUT
customer card and the development of a transactional internet site, which  was
opened to customers at the start of the current financial year.


UK

Comet  increased  its  profits  by  15.6%  to  £38.6  million  in  a  year  of
considerable  change  for  the  business. Significant  strategic  developments
included  the  national launch of EDLP in October; the opening  of  three  new
format   interactive  destination  stores  and  the  first   new   interactive
Superstore;  the  opening  of a further four new  local  after  sales  service
centres,  taking the total to seven; the expansion of the central Call  Centre
in Hull and the formal launch of Comet's transactional website in September.

All  these  developments contributed to sales growth of 13.9%, with  like-for-
like  growth  of  7.5%. This progress was achieved despite  significant  price
deflation,  particularly in brown goods. Strong sales  growth  in  both  white
goods  and  brown  goods  was experienced in the  second  half  of  the  year,
especially  following the introduction of EDLP, and Comet  continued  to  gain
market share, which increased from 12.1% to 12.9% for the year overall.

Significant  investment  was  undertaken  in  the  year  and,  including   the
developments mentioned above, six stores were opened, taking the total  number
to  262, four were relocated and there were five refurbishments. Following the
success  of the interactive stores all new stores will be of this format,  and
in  the  current year it is planned to open or refurbish 10 destination stores
and  eight of the smaller Superstores.  Although 19 stores are planned  to  be
closed  in the current year, the net effect will be to increase selling  space
by 217,000 square feet by the year end.

This   year   Comet  plans  to   launch  an  offering  on  Open..Digital   TV,
complementing the existing internet offer. Both offers will be supported by  a
further  expansion of the Hull Call Centre in the current year to  handle  all
calls made to Comet stores.


Germany

The  results  include Wegert (60% owned by Kingfisher) for the  twelve  months
ending  31st  December  1999.  During 1999 Wegert expanded  significantly  its
Promarkt  and  Makromarkt  stores portfolio,  adding  24  new  stores  through
acquisition  and  store openings, taking the total to 79 by  the  end  of  the
period.  In  the  current year it is planned to open  a  further  14  Promarkt
stores.  Retail sales increased by 56% but like-for-like growth was only 1.4%,
reflecting difficult trading conditions and significant price deflation. This,
together  with the investment costs of store expansion, resulted  in  a  small
loss for the year.


Other

New Vanden Borre, the Belgian electricals chain, increased like-for-like sales
by  13.4%,  outperforming a market that grew by 5.1%. The major event  of  the
year  was  the agreement announced in November to acquire, as from 1  February
2000,  the  Hugo Van Praag business, a chain of 30 stores. The combined  group
becomes  the market leader in electrical retailing in Belgium and provides  an
ideal platform for further growth.

BCC  in Holland increased sales by 7.1%, mainly due to the opening of two  new
stores  earlier  in  the  year, taking the total to 22  stores.  Like-for-like
growth  was 1.9%, driven by telecom and multimedia. Electric City in Singapore
suffered  from  intense  competitive pressures and  a  declining  market,  and
produced a loss in its first full year as part of the Kingfisher Group.


GENERAL MERCHANDISE

                    £m Sales          %     £m Retail Profit     %
   Company       99/00     98/99    change   99/00    98/99    change
 Woolworths    1,860.4   1,763.2     5.5     118.8    118.1      0.6
 Superdrug       842.3     798.6     5.5      41.4     41.1      0.7
 Other*          362.8     279.1    30.0      26.9     30.6    (12.1)
 Total         3,065.5   2,840.9     7.9     187.1    189.8     (1.4)

* Includes EUK, MVC, VCI, and central sector costs.  VCI's figures are for the
  12 months to 31 December 1999
                                       


*    Superdrug Expands Further In Health & Beauty
*    Big W Launch
*    Underlying Profit Growth Adversely Affected By Entertainment Pricing


In  a  tough  trading  environment,  characterised  by  slower  growth,  price
competition, and a focus on value by customers, both Woolworths and  Superdrug
produced good performances, securing sales growth ahead of the market in  both
total and like-for-like terms.

The   sector  was  strongly  impacted  by  one-off  cut-price  promotions   of
entertainment products in the market.  Whilst still profitable for Kingfisher,
this  led  to  a year on year profit decline in entertainment of £16  million.
Suppliers are now recognising the problems that this has created and,  as  one
part  of  our  entertainment strategy, we are working  closely  with  them  to
improve  our  margins  and,  at the same time,  deliver  great  value  to  our
customers.

Initiatives to establish profitable platforms for continued growth  are  being
pursued, including a more significant Internet and Digital TV presence.

Woolworths

Woolworths increased sales by 5.5% to £1,860.4 million, driven equally by
like-
for-like  growth and new space sales. Like-for-like sales growth of  2.7%  was
driven  by  strong  performances  in Mobile Communications  and  Confectionery
supported  by  the  ongoing  modernisation of  the  Woolworths  Local  stores.
However, as mentioned above, entertainment margins suffered.

During  the  year Woolworths achieved considerable progress in  its  expansion
programme, opening 11 stores, relocating one store and extending nine  stores.
New  space  contributed  an additional 237,000 square  feet,  taking  the  new
trading  space  opened over the past two years to 314,000 square  feet.   This
marks a significant step towards Woolworths' strategic objective of adding one
million square feet to the stores' base by 2002/03.  Also, a further 49 stores
were refurbished during the year.

In  the  current  year it is planned to open 14 Woolworths  stores,  adding  a
further 207,000 square feet of trading space.

The  first  two Big W stores, opened during the year, added a further  164,000
square  feet of trading space to the Woolworths total.  Customer reaction  has
exceeded  our  expectations. The concept offers customers a massive  range  of
products  under one roof and for the first time brings together product  lines
associated  with  all  the main Kingfisher UK brands. Since  the  year  end  a
further  two Big W stores have been opened, at Bristol and Rotherham,  and  in
the remainder of the year a minimum of another four stores will be opened. The
target  is to take the Big W chain to a total of ten outlets by the year  end,
with  approximately 805,000 square feet of trading space, including the  first
purpose built store in Glasgow.

Also  since the year end Woolworths has launched its Woolworths General  Store
format,  opening stores in Palmers Green and in Muswell Hill. This  new  store
format  combines  a pharmacy with Health & Beauty, general merchandise  and  a
convenience food offer.

Significant progress has also been achieved in the development of Woolworths
e-
commerce  activity.  In August Woolworths was one of the  first  retailers  to
launch  on  Open..Digital  TV,  with sales generated  to  date  far  exceeding
original  expectations.  In  December Woolworths launched  its  internet  site
offering a limited selection of Entertainment and Toys products. It is planned
to  expand  the range offered on both Open and internet significantly  in  the
current  year.   Woolworths has established a 572,000  square  feet  dedicated
singles  picking  warehouse in order to cope with increased  volumes  from  e-
commerce and the on-going catalogue activities.


Superdrug

At  Superdrug  sales  increased by 5.5% to £842.3 million, with  like-for-like
sales  growth of 3.5% driven by previous years' investments in new stores  and
pharmacies.  Profits were marginally ahead at £41.4 million despite  difficult
market  conditions,  with  price deflation, driven  by  competitive  activity,
contributing to a significant slow-down in market growth during the year.

Superdrug  continued to benefit from its focus on Health & Beauty, with  sales
in  these categories up by 8.5% and 20.4% respectively.  These gains, however,
did not compensate fully for the decline in the toiletries market.

Investment has been maintained in Superdrug, continuing the greater  focus  on
the  Health and Beauty offer.  Twenty-three new pharmacies were opened  during
the  year, bringing the total to 200. Five new stores were opened, another ten
were  either  relocated or extended and 160 stores were refurbished,  bringing
the  total  number  of rebranded stores to 347 out of a total  estate  of  704
stores.

In  the  current  year  Superdrug  will  continue  its  investment  programme,
targeting  8  new  store  openings,  12 relocations,  10  extensions,  and  50
refurbishments and adding another 50 pharmacies.


Other

Entertainment  UK,  the  Group's entertainment products wholesaler,  increased
sales by 10.1% in a market that overall showed little growth. During the  year
a  new  business was established to provide fulfilment services for Direct  to
Home  retailers, including EUK's existing Bricks and Mortar customers.   Sales
between  the  launch  in  October and the year-end exceeded  expectations  and
trading  with  several more major internet customers will begin in  the  first
half of the current year.

VCI, the video, music and book publisher acquired in November 1998, achieved a
considerable profits turnaround in its first full year as part of the Group as
a  result  of  lower  overhead costs.  Problems in the  book  division,  which
depressed profits for the year, have been addressed and improvements  in  this
area  should  underpin  further profits progression for  VCI  overall  in  the
current year.

MVC grew sales during the year as a result of increased store openings and
like-for-like sales up by 2.0%. During the year 22 stores were opened,
bringing the total to 83 stores, making MVC a significant player within the
market in terms of store numbers and selling space.  In the current year it is
planned to open a further eight stores.


PROPERTY

Chartwell  Land,  Kingfisher's specialist retail property  company,  increased
operating  profit  by  10%  to £76.0 million (£69.1 million).   Total  returns
comprising  operating  profit, profit on investment  property  sales  and  the
portfolio revaluation surplus, showed strong growth to £230.0 million  (£129.1
million).  This represents a return on average gross assets of 15%.

The  increase  in  total returns was driven by an improvement  in  revaluation
surplus  to  £140.1  million  (£56.7  million).   The  performance  of  retail
warehousing  was  particularly  strong.  Profit  on  disposals  of  investment
property  was  £6.9 million (£3.3 million) as disposals were concluded  at  an
average of around 13% more than December 1998 book values.

Of the total gross rents of £95.2 million, £68.9 million (72%) came from group
tenants.   Development activity reported a small loss of  £1.0  million  (£6.3
million profit), although this did not reflect the development surplus of over
£6 million on schemes retained within the investment portfolio.

During  the  year Chartwell Land's activities secured over 1m sq.  ft  of  new
retail  space for Group companies.  This included a portfolio of eight  stores
acquired  from  CRS  in April 1999 which included opportunities  for  two  B&Q
Warehouses  and four new Big W stores.  Gross assets at the end  of  the  year
were  valued  at £1.59 billion compared to £1.29 billion at the previous  year
end.

CENTRAL COSTS

Other operating costs increased year on year reflecting the development of
global sourcing, European supply chain and IT capabilities.

E-COMMERCE COSTS

E-commerce costs relate to the set up of internet operations, the commencement
of trading on Open..Digital TV, further development of home delivery catalogue
activities and our share of the losses incurred in the LibertySurf operation.



                     KINGFISHER DATA BY SECTOR AND COMPANY



DIY SECTOR
Company        Store              Selling space          Employees
                 nos.                                      (FTE)
                           (000s sq.ft.)  (000s sq. m.)       
B&Q              297          16,162         1,501.0       17,579
Castorama        142          11,500         1,068.4       14,190
Other             67           4,859           451.4        7,094
TOTAL            506          32,521         3,020.8       38,863

ELECTRICAL SECTOR
Company        Store              Selling space          Employees
                 nos.                                      (FTE)
                           (000s sq.ft.)  (000s sq.m.)        
Darty            173           2,133           198.2        9,175
Comet            262           2,091           194.3        8,012
Wegert           186           2,219           206.2        3,278
BUT*              63           2,021           187.8        2,257
Other             49             420            39.0        1,038
TOTAL            733           8,884           825.5       23,760

GENERAL MERCHANDISE
Company        Store              Selling space          Employees
                 nos.                                      (FTE)
                           (000s sq.ft.)  (000s sq.m.)         
Woolworths       797           6,657          618.5        17,529
Superdrug        704           2,203          204.7         6,462
Other             83             317           29.5         1,942
TOTAL          1,584           9,177          852.7        25,933


KINGFISHER                                               
TOTAL          2,823          50,582        4,699.0        88,556

The figures for BUT include only those stores consolidated in the Group's
figures.
BUT also operates the following non-consolidated franchises.
*BUT non                                                 
consolidated                                             
franchises       162         4,120.7          382.8         3,743


FINANCIAL REVIEW

Shareholder Return and Dividends

Earning per share before exceptional items and goodwill amortisation and
expenditure on e-commerce and other new channel development increased by 8.5%
to 32.8p  (1999: 30.3p).  After including the £23.3 million costs of e-
commerce and other new channel development the earnings per share figure is
31.5p, up 4.7%.   The revaluation surplus of £140.1 million on Chartwell's
property portfolio was equivalent to a further increase in shareholder value
of 10.3p per share.

The Board has proposed a final dividend of 10.5p per share making the total
dividend for the year of 14.5p per share.  This represents an increase of
11.5% and is covered 2.1 times from pre-exceptional earnings.

Cashflow and Investment in the Businesses

Net debt grew from £693.4 million at the start of the year to £1,020.8 million
by the year end.  Cash generation across the Group remained strong with £863.8
million being generated from operating activities before tax.

Net capital expenditure for the year of £816.8 million was £73.2 million up on
last  year.  Organic expenditure was £589.9 million, up 55.8% as the  enlarged
Group  continues  to  expand and improve its store  portfolio  and  supporting
infrastructure.   Expenditure on acquisitions resulted in a further  cash  out
flow of £226.9 million.

Interest

Net  interest  payable  increased by £27.6 million  to  £37.5  million.   This
increase  reflects both the funding of the acquisitions made in the  last  two
years  plus  the inclusion of a full year interest charge for those businesses
acquired  last  year. There was also a general increase in Sterling  and  Euro
interest rates.

Exceptional Items

The exceptional item within operating profit represents the costs incurred
during the period on the attempted merger with ASDA Group plc.  Last year the
exceptional item represents the release of an accrual for VAT on the
outstanding credit balances as 28 February 1997 following the withdrawal of
the Standard Method of Gross Takings by HM Customs and Excise.  Following a
Court of Appeal ruling the accrual was no longer required.





Taxation

The overall rate for the year decreased from 29.2% to 28.1%.  The reduction is
largely explained by an adjustment to the charge for previous years.  The rate
on  current  year profits was 29.5% (down from 30%). The current year rate has
come down partly because statutory rates have fallen in both the UK and France
and partly because tax relief on capital expenditure has been running ahead of
the corresponding accounting charge.  Against this a greater proportion of the
group's  profits arose in countries with tax rates higher than the UK, chiefly
France.  In the current year the overall rate is expected to rise to something
in excess of 30%.

Mergers and Acquisitions

During the year the Group made three principal acquisitions.  In each case the
goodwill arising has been capitalised and is being amortised in accordance
with Group policy.

DIY SECTOR

On  26 July 1999, B&Q plc acquired the entire share capital of Screwfix Direct
Limited,  a  mail  order  and e-commerce retailer of  building,  plumbing  and
electrical  products.  Total consideration was £83.7 million  giving  rise  to
goodwill of £80.9 million.

On  22  April  1999,  B&Q  plc acquired the entire share  capital  of  Dickens
Limited, a DIY retailer in the North East of England.  Total consideration was
£41.0 million giving rise to goodwill of £24.0 million.

Since  the year end the Group has announced two more acquisitions in  the  DIY
sector.

On 8 February 2000, B&Q plc acquired a 22.5% minority share in Virtueller Bau-
Markt  AG,  the  operator of heimwerker.de, the leading German DIY  e-commerce
business.

On  29  February 2000, B&Q plc acquired a 50% stake in Koctas Yapi  Marketleri
Ticaret A.S, the new operator of Koctas, the leading Turkish DIY retail chain.

ELECTRICAL SECTOR

On 31 May 1999 the Group subscribed for a 40% interest in Liberty Surf Group
SA, a pan-European internet service provider.  By the year end this interest
had increased to 45.5%.  Total consideration was £34.9 million.

During the year the Sector made several other smaller acquisitions including
Wegert Grosslabor GmbH, a German photographic processing company and ProMarkt
GmbH & Co.  KG Audio Video Elektro Foto, a German electrical retailer.

Since the year end LibertySurf has listed on the Premier Marche of the Paris
Bourse.  Kingfisher retains an interest of 38.0%, which at the closing price
on the day of initial listing values this interest at over £1 billion.  The
dilution in interest from 45.5% to 38.0% will result in an exceptional profit
in 2000/01 results of £118 million.

Since the year end the Group has completed the acquisition of Hugo Van Praag,
Belgium's number two electrical group.

PROPERTY

On 14 January 2000, the group acquired 92.5% of the share capital of Leicester
Centre Property Ltd., the owner of the Haymarket Shopping Centre in Leicester.

YEAR 2000

The Group successfully prepared for the potential year 2000 problems.  The
costs of rendering existing software year 2000 compliant was charged to the
profit and loss account as incurred.  These costs amounted to £8.7 million
(1999: £11.2 million).

DIVIDEND

The  final dividend for the year ended 29 January 2000 will be paid on 22 June
2000  to  shareholders on the register at close of business on 14  April  2000
subject  to  the  approval  of shareholders at the  Company's  Annual  General
Meeting  to  be  held  at 11.00 a.m. on 24 May 2000 at The  Dorchester  Hotel,
London.

ANNUAL REPORT AND ACCOUNTS

The  Summary  of Group Results, Consolidated Balance Sheet, Consolidated  Cash
Flow  Statement, Consolidated Statement of Total Recognised Gains  and  Losses
and  extracts  from the notes to the accounts are extracted from  the  Group's
Report  and Accounts. The auditors have made a report on the Group's statutory
accounts under section 235 of the Companies Act 1985 which does not contain  a
statement  under  sections  237  (2) or  (3)  of  the  Companies  Act  and  is
unqualified.  The  statutory  accounts will be filed  with  the  Registrar  of
Companies in due course.

Copies  of  the  annual report and accounts will be posted to shareholders  no
later than 21 April 2000.

Further copies of this announcement are available from:

The Company Secretary
Kingfisher plc
North West House
119, Marylebone Road
London
NW1 5PX





                    KINGFISHER plc AND SUBSIDIARY COMPANIES
                           Summary of Group Results
                                       
For year ended 29 January 2000
£ millions                       Note       2000         1999
                                                     
                                                     
Group turnover                    1     10,885.0      7,457.8
                                                     
Group Operating Profit                               
DIY                                        372.6        191.1
Electrical                                 197.0        173.4
General merchandise                        187.1        189.8
Property                                    76.0         69.1
e-commerce & other new channels            (23.3)        (3.7)
Exceptional item -  operating     3         (3.5)        44.7
Other operating costs                      (37.9)       (25.1)
Acquisition goodwill                                 
amortisation                               (10.5)        (2.2)
Group Operating Profit            2        757.5        637.1
                                                     
Exceptional items - non                              
operating                         3          6.2          2.1
Profit before interest                     763.7        639.2
Net interest payable              4        (37.5)        (9.9)
Profit before tax                          726.2        629.3
Taxation                          5       (204.4)      (183.5)
Profit after tax                           521.8        445.8
Minority interests                        (102.4)        (8.9)
Profit for the financial year              419.4        436.9
Dividends                                 (198.2)      (175.3)
Retained profit for the year               221.2        261.6
Earnings per share -                                 
   Basic                          6         30.9p        32.3p
   Before exceptional items,                         
   acquisition goodwill                                 
amortisation, and e-commerce                         
and other new channels                               
                                            32.8p        30.3p

                              Group Balance Sheet
                             As at 29 January 2000
                                       
                                       
£ millions                 Note           2000                1999
                                                                
Fixed assets                                                         
Intangible assets                        400.9               267.3
Tangible assets                        3,432.5             2,885.4
Investments in joint ventures                              
  Share of gross assets         109.0             105.1    
  Share of gross liabilities    (93.1)    15.9    (94.9)      10.2
Investments in associates                 39.2                11.2
Other investments                         40.3                45.0
                                       3,928.8             3,219.1
Current assets                                             
Development work in progress              96.7                69.0
Stocks                                 1,669.4             1,465.4
Debtors due within one year              687.3               608.8
Debtors due after more than                                
  One year                               146.8               144.1
Securitised consumer                                       
  Receivables                   303.8              321.0
Less:  non-recourse secured                                
       notes                   (234.5)    69.3    (247.4)     73.6
Investments                              352.3               311.7
Cash at bank and in hand                 156.6               241.2
                                       3,178.4             2,913.8
                                                           
Creditors                                                  
Amounts falling due within one year   (3,377.1)           (2,726.0)
Net current (liabilities)/assets        (198.7)              187.8
Total assets less current liabilities  3,730.1             3,406.9
                                                           
                                                           
Creditors                                                  
Amounts falling due after more than                        
one year                                (626.0)             (768.8)
Provisions for liabilities and charges   (18.6)              (21.8)
                                       3,085.5             2,616.3
                                                           
Capital and reserves                                       
Called up share capital                  171.0               170.0
Share premium account                    255.2               237.7
Revaluation reserve                      534.4               395.4
Non-distributable reserves               148.2               146.3
Profit and loss account                1,519.8             1,301.2
Equity shareholders' funds    7        2,628.6             2,250.6
Equity minority interests                456.9               365.7
                                       3,085.5             2,616.3
                                       
                       Consolidated Cash Flow Statement
                 For the financial year ended 29 January 2000

£ millions                          Note       2000         1999
                                                             
Net cash flow from operating activities      8863.8        698.3
                                                        
Returns on investment and servicing of                  
finance
Interest received                              31.5         35.2
Interest paid                                 (68.2)       (46.1)
Interest element of finance lease rental                
payments                                       (4.0)        (2.4)
Dividends paid by subsidiaries to                       
minorities                                    (20.2)          -
Net cash outflow from returns on                        
investment and servicing of finance           (60.9)       (13.3)
                                                        
Taxation                                                
UK Corporation tax paid                      (127.8)      (125.2)
Overseas tax paid                             (73.0)       (44.0)
Tax paid                                     (200.8)      (169.2)
                                                        
Capital expenditure and financial                       
investment
Payments to acquire tangible fixed assets    (664.8)      (416.0)
Receipts from the sale of tangible fixed                
assets                                         74.9         37.4
Payments for additions to investments         (14.2)       (15.3)
Receipts from sale of investments               3.4          0.9
Net cash outflow from capital expenditure               
and financial investment                     (600.7)      (393.0)
                                                        
Acquisitions and disposals                              
Purchase of subsidiary and business                     
undertakings                                 (187.5)      (361.2)
Net cash/(overdrafts) acquired with             4.8        (69.4)
subsidiary undertakings
Payments for additions to joint                         
ventures/associated undertakings              (39.4)        (3.8)
Issue of shares by group companies to                   
minority shareholders                          58.7           -
Net cash outflow from acquisitions and                  
disposals                                    (163.4)      (434.4)
                                                        
Equity dividends paid to shareholders        (146.4)      (153.8)
                                                        
Management of liquid resources                          
Net movement in short term deposits           120.2         22.3
Net purchase of short term investments        (39.9)       (43.1)
Net cash inflow/(outflow) from management               
of liquid resources                            80.3        (20.8)
                                                        
Financing                                               
Issue of ordinary share capital                10.8         13.6
Capital element of finance lease rental                 
payments                                       (8.8)        (6.4)
Net increase in loans                         379.2        433.2
Net cash inflow from financing                381.2        440.4

Increase/(decrease) in cash                   153.1        (45.8)

                                       

            Reconciliation of Net Cash Flow to Movement in Net Debt
                 For the financial year ended 29 January 2000
                                       
£ millions                                   2000          1999     
                                                                  
Net debt at start of year                   (693.4)      (203.5)     
Increase/(decrease) in cash                  153.1        (45.8)      
Debt in subsidiaries acquired                (44.5)       (41.0)           
Net movement in short term deposits         (120.2)       (22.3)      
Net purchase of short term investments        39.9         43.1        
Change in market value of investments          0.7         (0.5)       
Net increase in loans                       (379.2)      (433.2)     
Foreign exchange effects                      22.8          9.8         
Net debt at end of year                   (1,020.8)      (693.4)     
                                       
                                       
                                       
          Consolidated Statement of Total Recognised Gains and Losses
                 For the financial year ended 29 January 2000


£ millions                                    2000         1999     
                                                                   
Profit for the financial year                419.4        436.9       
Unrealised surplus on revaluation of                               
properties                                   142.0         58.4
Non-distributable reserve arising on the                                
combination of B&Q and Castorama               1.9        146.3
Minority increase in Castorama                21.2          -
Exchange adjustments offset in reserves      (46.4)       (10.0)      
Tax on exchange adjustments offset in                              
reserves                                      (6.8)         -
                                                                   
Total recognised gains and losses                                  
relating to the year                         531.3        631.6

1.Turnover

£ millions                                   2000          1999          
                                                                        
DIY                                       4,528.3       2,055.4           
Electrical                                3,188.0       2,458.1           
General Merchandise                       3,065.5       2,840.9           
Property                                     32.5          41.1          
Financial Services                           70.7          62.3          
Total turnover                           10,885.0       7,457.8           


2. Operating Profit

£ millions                                   2000         1999          
                                                                        
Group Turnover                           10,885.0      7,457.8           
Cost of Sales                            (7,248.5)    (4,960.9)         
Gross Profit                              3,636.5      2,496.9           
Other income and expenses                (2,873.5)    (1,909.1)         
Exceptional items-operating                  (3.5)        44.7              
Share of joint ventures and associates       (2.0)         4.6               
Group Operating Profit                      757.5        637.1             


3.Exceptional items

£ millions                                   2000         1999     
                                                                   
Operating exceptionals                                             
   - Costs of attempted merger               (3.5)          -
   - VAT accrual release                       -          44.7             
                                             (3.5)        44.7             
                                                                   
Non operating exceptionals
   - Profit on disposal of fixed assets       6.2          2.1         


4.Net interest payable

£ millions                                  2000         1999           
                                                                  
Interest payable                            76.5         49.2         
Interest receivable                        (36.6)       (35.2)       
                                            39.9         14.0         
Interest capitalised                        (2.4)        (4.1)        
Net interest payable                        37.5          9.9          





5.Taxation

£ millions                                  2000         1999     
                                                                  
Tax charge on profit  for the year:                               
   UK corporation tax at 30.16% (1999 :    123.9        148.6        
31%)
   Relief for double taxation               (3.2)        (1.2)        
   Overseas taxation                        93.6         40.2         
          Deferred tax                      (0.3)        (0.2)        
          Associated undertakings            0.8          1.5          
          Joint ventures                     0.7           -            
                                           215.5        188.9        
   Prior year adjustments                  (11.1)        (5.4)        
                                           204.4        183.5        



6.Earnings per share

Pence                                       2000        1999    
                                                                     
Basic earnings per share                    30.9        32.3       
Attributable to VAT accrual release          -          (2.3)      
Attributable to other exceptional items     (0.2)       (0.1)      
Earnings per share before exceptional                           
items                                       30.7        29.9
Attributable to acquisition goodwill                 
amortisation                                 0.8         0.2
E-commerce & other new channels              1.3         0.2        
Basic - adjusted earnings per share         32.8        30.3       


7.Reconciliation of movement in shareholders' funds

£ millions                                   2000       1999          
                                                                 
Profit for the financial year                                    
attributable to the members of                       
Kingfisher plc                              419.4      436.9
Dividends                                  (198.2)    (175.3)     
                                            221.2      261.6       
Foreign exchange adjustments (net of                             
tax)                                        (53.2)     (10.0)
Unrealised surplus on revaluation of                             
properties                                  142.0       58.4
Shares issued under option schemes           10.3       13.4        
Scrip issue                                  34.6        9.3         
Non-distributable reserve arising on the                         
combination of B&Q and Castorama              1.9      146.3
Minority increase in Castorama               21.2         -           
Movement in Darty minority interest            -         1.0
Net addition to shareholders' funds         378.0      480.0       
Opening shareholders' funds               2,250.6    1,770.6     
Closing shareholders' funds               2,628.6    2,250.6     


8.Net cash flow from operating activities

£ millions                                   2000       1999          
                                                                   
Group operating profit                      759.5      632.5       
Depreciation and amortisation               191.3      141.0       
Increase in development work in progress    (25.3)     (15.8)      
Increase in stock                          (272.3)     (94.3)      
(Increase)/decrease in debtors             (119.6)      66.1        
Increase/(decrease) in creditors            326.0      (46.0)      
Loss on disposal of fixed assets              4.2       14.8        
Net cash inflow from operating activities                          
                                            863.8      698.3







For further information


Media Enquiries
Gwen Gober, Director of Corporate Affairs                + 44 (0) 20 7725 5714
Gail Lavielle, Director of Corporate Communications      + 33 (1) 43 18 52 68

Broker and Institutional Enquiries
Keith Williams, Director of Investor Relations           + 44 (0) 20 7725 5776
Graham Fairbank, Head of Corporate Communications        + 33 (1) 43 18 52 26

Kingfisher plc                                           + 44 (0) 20 7724 7749

Kingfisher Website                                       www.kingfisher.co.uk