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Kingfisher's H1 profits dip due to forex movements

Kingfisher's group like-for-like sales rose by 2%
Kingfisher's group like-for-like sales rose by 2%

Kingfisher, Europe's largest home improvements retailer, said today it could open 200 more of its strongly performing Screwfix stores.

The news came as the company said its first-half group profit dipped due to adverse foreign exchange movements today. 

The firm runs the B&Q chain in Ireland and the UK, as well as the Screwfix chain in Britain and Castorama and Brico Depot in France and other countries.

It said today that adjusted pretax profit for the six months to August 1 fell 2.3% to £384m. That was slightly ahead of a forecast of £380m. 

Group like-for-like sales rose by 2%, with the UK and Ireland division up 3.3%. 

In France underlying sales fell 0.3% due to ongoing weak consumer confidence. 

Kingfisher currently has 412 Screwfix UK stores, which supply tools, plumbing and electrical equipment to tradesmen and home improvement enthusiasts.