LONDON, March 22 Home improvement retailer
Kingfisher beat forecasts with an 8.3 percent rise in
annual profit, with a resilient sales performance in Britain
outweighing a softer French market which it remains cautious
The firm, which trades as B&Q and Screwfix in Britain and
Castorama and Brico Depot in France and other markets, said on
Wednesday it made an adjusted pretax profit of 743 million
pounds ($928 million) in the year to Jan. 31 2017.
That compares to analysts' average forecast of 714 million
pounds and 686 million pounds made in 2015-16.
Total adjusted sales rose 8.7 percent to 11.2 billion
"Looking forward, the EU referendum has created uncertainty
for the UK economic outlook and we remain cautious on the
outlook for France, especially in light of the forthcoming
presidential elections," said Chief Executive Véronique Laury.
The firm did, however, reaffirm its five year financial
($1 = 0.8006 pounds)
(Reporting by James Davey; editing by Kate Holton)