LONDON (dpa-AFX) - Home improvement retailer Kingfisher plc (KGF.L) reported Monday that its fiscal year pre-tax profit surged 634 percent to 756 million pounds from last year's 103 million pounds.
Basic earnings per share surged to 28.1 pence from last year's 0.4 pence.
Adjusted pre-tax profit was 786 million pounds, compared to 544 million pounds a year ago. Adjusted earnings per share were 28.7 pence, compared to 19.1 pence last year.
Sales for the year grew 7.2 percent to 12.34 billion pounds from 11.51 billion pounds a year ago. Sales increased 6.8 percent at constant currency rates, and 7.1 percent on a like-for-like basis with growth across all banners.
Further, the company resumed dividend payments with a proposed total dividend per share of 8.25p, compared to last year's 3.33p.
Looking ahead, Kingfisher said the new financial year has started positively, with Q1 21/22 Group LFL sales to March 18 up 24.2 percent, reflecting strong demand in the UK and France.
However, the company remains mindful of the continued uncertainty related to COVID in continental Europe.
The company is targeting full year adjusted pre-tax profit to grow in line with total sales.
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