B&Q reports fall in profits

The impact of the consumer downturn on sales of new kitchens and bathrooms contributed to a £25m (€26.8m) slump in profits at British DIY chain B&Q today.

Retail group Kingfisher – the world’s third largest home improvement business - said profits for the UK arm of B&Q fell 19% to £106m (€114m) after like-for-like sales declined 6.1% in the year to January 31.