23rd Sep 2025 09:27
(Alliance News) - Kingfisher PLC on Tuesday reported market share gains and an acceleration of its buyback programme, as it posted advances in its top and bottom lines.
The London-based DIY and home improvement retailer owns the B&Q, Screwfix, Castorama and Brico Depot brands. Its shares climbed 18% to 297.44 pence on Tuesday morning in London.
Kingfisher reported pretax profit of GBP338 million for the six months that ended July 31, rising 4.1% from GBP324 million a year prior.
Driving the improved earnings was a 0.8% advance in Kingfisher's top line, as revenue improved to GBP6.81 billion from GBP6.76 billion.
Kingfisher reported market share gains in the UK, France and Spain, with Poland performing broadly in line with the market.
Underlying like-for-like sales growth for the interim period was 1.9%, with this owed to a combination of volume and transaction growth.
Kingfisher kept its half-year dividend flat with the prior year at 3.80 pence. However, it upgraded its full-year guidance, with it now targeting free cash flow of around GBP480 million to GBP520 million. This up from the previous range of between GBP420 million and GBP480 million. This figure was GBP512 million in financial 2025.
Kingfisher also said it is now targeting the upper end of its full-year guidance for adjusted pretax profit of between GBP480 million to GBP540 million. Last year, this metric was GBP528 million.
Kingfisher added that it is accelerating its current GBP300 million share buyback programme, with completion expected by the end of March next year.
"We delivered a strong first half with high quality underlying like-for-like sales growth of 1.9%, driven by increased volumes and transactions. Our teams continue to execute at a high level, delivering double-digit growth in our strategic initiatives, trade and e-commerce, which supported our market share gains," said Chief Executive Thierry Garnier.
"Our expectations for our markets for the year remain consistent with what we outlined in March, whilst mindful of mixed consumer sentiment and political uncertainty. Combined with our H1 performance, this gives us the confidence to upgrade our full year profit and free cash flow guidance and to accelerate our share buyback programme. We remain focused on executing our strategic priorities, maintaining cost discipline and driving shareholder returns," continued Garnier.
By Christopher Ward, Alliance News reporter
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