March 21, 2018 / 7:19 AM / a year ago

Kingfisher profit up 1.3 pct on Screwfix, Poland growth

LONDON, March 21 (Reuters) - Kingfisher, Europe’s second largest home improvement retailer, beat forecasts with a 1.3 percent rise in annual profit, with a weak performance in France offset by strong growth at Screwfix in Britain and in Poland.

The firm, which trades as B&Q and Screwfix in Britain and Castorama and Brico Depot in France and elsewhere, said on Wednesday it made an underlying pretax profit of 797 million pounds ($1.12 billion) in the year to Jan. 31 2018.

That compares to analysts’ average forecast of 783 million pounds and the 787 million pounds made in 2016-17.

Total sales rose 3.8 percent to 11.7 billion pounds.

Kingfisher said the outlook for its main markets was mixed - “the UK is more uncertain, France is encouraging yet volatile, whilst the market in Poland remains supportive.” (Reporting by James Davey; editing by Sarah Young)

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