European home improvement retailer Kingfisher has today reported a 6% rise in annual profit, with a resilient performance in the UK offsetting softer markets in France and Poland.
The FTSE 100 listed group, which trades as B&Q and Screwfix in Ireland and the UK and Castorama and Brico Depot in France and other markets, forecast a further rise in profit in 2026/27.
CEO Thierry Garnier said Kingfisher had so far not seen any direct impact on consumer behaviour from the US-Israeli war with Iran, noting the business is skewed to repair and maintenance rather than discretionary spending.
Finance chief Bhavesh Mistry also pointed to the limited impact of the conflict on the group's cost base, saying that energy costs equalled less than 1% of total sales and the company was well hedged for the year ahead.
On freight, he said that while about 20% of Kingfisher's goods on a cost basis were sourced from Asia they were locked into annual contracts.
Kingfisher made an adjusted pretax profit for the year to January 31, 2026, in line with its guidance, of £560m. Total sales rose 1.3% to £12.9 billion.
Like-for-like sales in the UK and Ireland rose 3.3%, but were down 2.2% in France and down 1.1% in Poland.
For the 2026/27 year, Kingfisher forecast profit in a range of £565-625m. Before today's update, analysts were on average forecasting £596m.
"With a mixed consumer environment across our markets, we continue to focus on delivering our strategic priorities, maintaining cost discipline and driving shareholder returns," Garnier said.
He highlighted a 23% increase in sales to the building trade, excluding Screwfix, and a 20% increase in e-commerce sales, excluding Screwfix. E-commerce sales were 21% of total sales.
Kingfisher, whose shares are down 5% so far this year, said it would start a new £300m share buyback programme, having completed a £300m programme in 2025/26.
