LONDON (dpa-AFX) - Kingfisher Plc (KGF.L), a home improvement solutions company, on Tuesday reported a decline in sales for the first half, amidst a fall in Big-Ticket and Seasonal category sales.
In addition, Kingfisher has upped the lower range of its annual adjusted pre-tax profit guidance, reflecting its performance in the first-half and the current market trading environment.
For the six month period to July 31, the company posted a pre-tax income of 324 million pounds, higher than 317 million pounds, registered for the same period last year.
Excluding items, pre-tax earnings were at 334 million pounds, compared with 336 million pounds in 2023.
Net profit stood at 237 million pounds, flat with last year.
Net income per basic share was 12.8 pence, up from prior year's 12.4 pence per share.
Adjusted earnings were at13.2 pence per share, higher than 13 pence per share a year ago.
Excluding items, profit dropped to 243 million pounds from previous year's 249 million pounds.
Operating profit rose to 374 million pounds from 367 million pounds in 2023.
Sales decreased to 6.756 billion pounds from last year's 6.880 billion pounds.
LFL sales were down 2.4 percent, including a positive 0.6 percent leap year impact.
Big-ticket category LFL sales slipped 6.8 percent reflecting trends across the broader market.
Seasonal category LFL sales decreased 3.1 percent given unfavorable weather conditions across much of April to June.
The Board will pay an interim dividend of 3.80 pence per share on November 15 to shareholders of record as of October 11.
For the full year, the company now expects annual adjusted pre-tax income of around 510 million pounds to 550 million pounds, compared with earlier expectation of around 490 million pounds to 550 million pounds.
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
