LONDON (Reuters) -European home improvement retailer Kingfisher on Tuesday upgraded its full-year profit outlook as it reported a 0.9% rise in underlying sales for its third quarter, winning market share in the UK.
The FTSE-100 listed group, which owns B&Q and Screwfix in the UK and Castorama and Brico Depot in France and other markets, said it now expected adjusted profit before tax for its year to end-January 2026 in the range of 540 million pounds to 570 million pounds ($707-$747 million), up from previous guidance of the upper end of 480 to 540 million pounds.
Kingfisher made 528 million pounds in 2024/25.
The group said UK and Ireland like-for-like sales rose 3.0% in its third quarter to October 31.
However, consumer demand was more subdued in France and Poland, where like-for-like sales fell 2.5% and 1.3% respectively.
Official data published last week showed British retail sales tumbled in October, while a closely watched gauge of household sentiment fell this month, adding to signs of waning consumer spending ahead of finance minister Rachel Reeves’ budget on Wednesday.
($1 = 0.7632 pounds)
(Reporting by James Davey, Editing by Paul Sandle and Sarah Young)
