Kingfisher warns of financial hit from UK and France budgets

Kingfisher now expects full-year 2024/25 adjusted profit before tax in the range of £510m to £540m (€607.4m-€643.4m)

Kingfisher said sales across their UK and Ireland stores were up 1.3% in the third quarter.

Screwfix and B&Q owner Kingfisher warned of a £45m (€53.9m) hit to profits from tax-raising measures in government budgets in both the UK and France, sending its shares sharply lower.

The group, which owns B&Q and Screwfix in the UK and Ireland, and Castorama and Brico Depot in France, also lowered the top end of its guidance for annual profit in the current 2024/25 year as it reported a 1.1% fall in third-quarter underlying sales, reflecting a weak market and consumer confidence in both countries in October.