24th Mar 2026 09:24
(Alliance News) - Kingfisher PLC on Tuesday posted a stronger bottom line in financial 2026 and announced another GBP300 million share buyback programme.
The London-based do-it-yourself and home improvement retailer owns the B&Q, Screwfix, Castorama and Brico Depot brands in France, Poland and the UK.
Pretax profit jumped 23% to GBP378 million in the financial year that ended January 31 from GBP307 million in financial 2025.
Adjusted pretax profit rose 6.0% to GBP560 million from GBP528 million on-year. This was just ahead of Vuma-cited market consensus of GBP559 million, but came up short of predictions from Deutsche Bank, whose analysts had forecast GBP579 million in adjusted profit while citing consensus at GBP596 million. It was also just shy of the GBP564 million estimate by JPMorgan analyst Georgina Johanan.
Kingfisher itself in November had lifted its guidance for the second time in three months, on the back of strong UK & Ireland sales. It had forecast adjusted pretax profit between GBP540 million and GBP570 million.
The company's retail profit rose 5.4% to GBP734 million from GBP696 million for a retail profit margin of 5.7%, up from 5.4% the previous year.
Total sales increased 1.3% to GBP12.95 billion from GBP12.78 billion, slightly above the consensus forecast of GBP12.90 billion. Like-for-like growth was in line with consensus at 1.1%. The UK & Ireland accounted for a 3.3% rise in annual sales, with other international markets, including Iberia and Romania, growing 8.0% on-year. France and Poland registered declines of 2.2% and 1.1% respectively.
JPMorgan's Johanan had suggested the backdrop remained soft in the UK and France, while trends in Poland were more mixed.
Kingfisher's free cash flow totalled GBP512 million in financial 2026, slightly up from GBP511 million the year prior.
"B&Q and Screwfix were standout performers, driven by trade and e-commerce initiatives, product innovation, transference from the closure of Homebase stores, and strong seasonal sales," the company said.
Basic earnings per share amounted to 14.0 pence, up from 10.1p, and Kingfisher has proposed a final dividend of 8.60p, unchanged from the year prior. This brings 2025's total dividend to 12.40p, also flat on-year.
Kingfisher shares traded 0.6% lower at 294.50 pence on Tuesday morning in London, having risen 5.3% over the past year. The stock has lost roughly 20% since the start of the conflict in the Middle East this month.
The company noted that it completed a GBP300 million buyback scheme on March 5, and that it is launching a fresh round of buybacks, for a further GBP300 million.
Looking to financial 2027, Kingsfisher expects adjusted pretax profit in the region of GBP565 million to GBP625 million.
"With a mixed consumer environment across our markets, we continue to focus on delivering our strategic priorities, maintaining cost discipline and driving shareholder returns," commented Chief Executive Thierry Garnier.
"This positions us well to capitalise on the attractive long-term structural growth opportunities within our markets."
By Holly Munks, Alliance News reporter
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