Kingfisher reports lower UK profits

B&Q owner Kingfisher revealed weaker UK sales figures today as it braced itself for a further softening in consumer demand in the coming months.

B&Q owner Kingfisher revealed weaker UK sales figures today as it braced itself for a further softening in consumer demand in the coming months.

The group said UK retail sales of £1.08bn (€1.5bn) were 0.5% lower on a like-for-like basis, cutting profits for the division by almost 12% to £45.3m (€63.4m) as a result.

Kingfisher said efforts to overhaul ranges and stores were going well, but it added that it did not expect an immediate pick up in trading conditions.

The group is the world’s third largest home improvement retailer, with more than 775 stores in 10 countries. Its other retail brands include Castorama, Brico Depot and Screwfix.

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