StockMarketWire.com - Kingfisher said sales fell 0.7% to £11,665m on a like-for-like basis for the year ending 31 January, while underlying pre-tax profit increased 1.3% to £797m from £787m.

In the UK and Ireland, like-for-like sales grew 0.6% to £5bn. However, like-for-like sales in France fell by 3.5% to £4.39bn. Castorama total sales declined by 1.9% to £2.41bn.

The effective tax rate (ETR), calculated on profit before exceptional items, prior year tax adjustments and the impact of future rate changes, was 30%, up from 26% following a French tax surcharge of approximately £20m.

Total sales in B&Q fell by 5.3% to £3.49bn due to store closures.

Like-for-like sales at Screwfix rose 10.1% to £1.56bn, driven by strong growth from the specialist trade desks exclusive to plumbers and electricians, strong digital growth and continued roll out of new outlets.

Kingfisher raised its full-year dividend by 4% to 10.8p per share from 10.4p.

The firm warned the outlook for its main markets is mixed.

'In the UK it is more uncertain, and in the fourth quarter both B&Q and Screwfix experienced softer sales. In France, we are encouraged by the market backdrop although it is volatile, whilst in Poland the market remains supportive,' Kingfisher said.





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