Poor B&Q sales hit Kingfisher profits

B&Q owner Kingfisher revealed a 16% slump in profits at the home improvement retail outlets today as it warned that trading conditions had remained “challenging” in recent weeks.

The company, which is Europe’s biggest home improvement retailer, highlighted the dire position of its market with quarterly figures showing a 7.7% fall in like-for-like sales at B&Q in the three months to April 30.