B&Q owner sees profit jump 21% on Covid-19 boost

Kingfisher operates a range of home improvement brands including Screwfix

Total sales rose 6.8% to €15.8bn with more people rediscovering DIY during the crisis.

Home improvement retailer Kingfisher reported record annual revenue and profit-driven by the Covid-19 pandemic and said it had made an encouraging start to its new year despite heightened macroeconomic and geopolitical uncertainty.

The group, which owns B&Q and Screwfix in the UK and Ireland and Castorama and Brico Depot in France and other markets, said it made an adjusted profit before tax of £949m (€1.1bn) in the year to January 31 - in line with analysts' forecasts and up 20.9% from the 786 million pounds made in 2020-21.