Kingfisher delivers record year as profits and sales soar
Kingfisher has said it is “ahead of schedule” with its new strategy after reporting record profits and sales last year.
For the year to January 31, Kingfisher reported a 33% increase in statutory pre-tax profits to more than £1bn and a 6.8% increase in revenues to £13.2bn.
Gross profits jumped 7.9% to £4.9bn, while operating profits leapt 25% to £1.1bn.
In terms of adjusted metrics, retail profit for Kingfisher was up 17% to £1.1bn “driven by strong growth” in the UK, Ireland and France; adjusted pre-tax profits were up 21% to £949m; and the retail profit margin was up by 60 basis points.
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