LONDON (dpa-AFX) - Kingfisher plc (KGF.L) said its Board plans to return in full the UK and Republic of Ireland business rates relief received as a result of the COVID-19 crisis. Following the decision, the Group now expects fiscal year 20/21 adjusted profit before tax to include approximately 85 million pounds of non-recurring cost savings (previous guidance: approximately 175 million pounds), net of any one-off COVID-related costs.
Andy Cosslett, Chairman of Kingfisher, stated: 'Kingfisher is in a sound financial position with continuing positive trading momentum, due to both strong consumer demand and the benefits of our strategy. We are pleased that we are in a position to do this.'
Copyright RTT News/dpa-AFX
© 2020 AFX News
