September 11, 2013 / 6:16 AM / 4 years ago

Kingfisher first-half profit falls 1.6 pct

LONDON, Sept 11 (Reuters) - Kingfisher, Europe’s biggest home improvements retailer, met forecasts with a 1.6 percent fall in first-half profit as a better second quarter was not enough to fully offset the impact of poor weather in the first quarter.

The firm, which runs the B&Q and Screwfix chains in its home market as well as Castorama and Brico Depot in France, said on Wednesday it made an underlying pretax profit of 365 million pounds ($574 million) in the six months to August 3.

That was bang in line with analysts’ average forecast, according to a company poll, but down from 371 million pounds in the same period last year.

After a weak first quarter that was blamed on unseasonably cold weather Kingfisher had a much better second quarter as weather conditions improved, spurring demand for seasonal items.

The firm said it was confident about its future prospects despite tough markets.

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