B&Q owner Kingfisher’s profits slump nearly 40 per cent although Covid backlog may yet boost DIY chain’s bottom line March 21, 2023 B&Q owner Kingfisher reported a sales slowdown as the DIY giant felt the hit from Brits scaling back on home improvements. For the year ending 31 January 2023 Kingfisher, which also owns brands such as Screwfix, posted pre-tax profits of £611m, down 39.3 per cent from £1.7bn in the same period last year. As shoppers [...]
Have Brits fallen out of love with DIY? B&Q and rival Wickes eye lower profits after costs soar and demand dwindles March 20, 2023 B&Q owner Kingfisher and rival Wickes are set to reveal falls in profits over the past year as surging costs dampen the outlook for the home improvements market. Kingfisher, which runs B&Q and Screwfix, has previously indicated its sales and profits have weakened over the past year, as it also saw DIY demand from locked-down [...]
FTSE 100 live: London index steady as China growth target disappoints investors March 6, 2023 The FTSE 100 has barely moved this morning, after China disappointed investors with modest growth targets for the year.
FTSE 100 close: Wizz Air nosedives while JD Sports and 3i shine in London January 26, 2023 London’s FTSE 100 jumped today, led higher by private equity firm 3i soaring after it dropped a strong crop of results, prompting traders to pile into its shares. The capital’s premier index climbed 0.22 per cent to 7,761.55 points, while the domestically-focused FTSE 250 index, which better reflects the health of the UK economy, leapt [...]
FTSE 100 close: Barclays, HSBC and Easyjet shine on otherwise poor day in London January 25, 2023 London’s FTSE 100 today gave up morning gains to finish lower before stronger-than-expected retail earnings provided a balm against recession fears. The capital’s premier index fell 0.22 per cent to 7,740.34 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, slid 0.38 per cent to [...]
B&Q owner says DIY sales driven by household energy concerns as profit forecast trimmed November 24, 2022 Kingfisher has seen customers forking out to improve their household energy efficiency, as the B&Q owner shaved its full-year profit outlook. In a trading update for the third quarter, the retail titan posted sales of £3.3bn, a 0.2 per cent boost on the previous year. The Screwfix owner previously reaped the rewards of a pandemic [...]
Exclusive: Reform stamp duty to boost energy efficiency, urges Kingfisher November 21, 2022 The Government should reform stamp duty to boost the energy efficiency, argued Kingfisher, the owner of brands such as Screwfix and B&Q.
Public finances in view after Hunt’s £55bn of spending cuts and tax hikes November 20, 2022 Traders will be keen to examine fresh public finances figures out this week to get a sense of the UK’s debt pile that pushed chancellor Jeremy Hunt into £55bn of spending cuts and tax hikes last week. London’s premier FTSE 100 index registered a solid performance last week, adding 0.92 per cent to close at [...]
Stronger than expected US job growth plunges pound against dollar October 7, 2022 The pound slipped 0.3 per cent against the dollar at $1.113 this afternoon after US labour figures suggested stronger than expected jobs growth. US employers added 263,000 jobs in September as the country’s unemployment rate dropped to 3.5 per cent, figures from the Bureau of Labour Statistics show. Economists polled by Reuters had previously expected US [...]
B&Q owner Kingfisher profit nosedives 30 per cent amid economic gloom September 20, 2022 B&Q owner Kingfisher posted slumped profit in half-year results, with bosses citing an “exceptionally strong” comparable period last year. Operating profit was down 29.1 per cent, the DIY retailer highlighted, in results for the six months ended 31 July. Depleted sales came against a “backdrop of exceptionally strong” trading in the first-half of 2021, Thierry [...]