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Kingfisher expects rise in first-half profit as sales recover

By BFN News | 07:22 AM | Wednesday 22 July, 2020


Home improvement retailer Kingfisher said it expected half-year adjusted pre-tax profit to be ahead of the prior year, as demand bounced back amid an easing of lockdowns. Like-for-like sales were up 21.6% for the second quarter to 18 July, though for the year to 18 July they were down 3.7%. 'While we are entering the second half with a favourable trading backdrop, second half visibility remains low given uncertainty around COVID-19 and the wider economic outlook,' the company said. 'We look forward to providing a more detailed update at the half year results on 22 September 2020,' it added. Story provided by StockMarketWire.com

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