StockMarketWire.com - Home improvement retailer Kingfisher upgraded its outlook following a 'good' start to the fourth quarter after a third-quarter sales slipped amid 'tough' prior-year comparatives.

Full year adjusted pre-tax profit was expected to be towards the higher end of the previously guided range of £910 million to £950 million, with second half like-for-like sales also forecast to be towards the higher end of the previously guided range for a fall between 7% to 3%.

The upbeat outlook came even as it reported a fall sales in the third quarter amid tough prior-year period pandemic comparatives.

The company said it had made a 'good' start to the fourth quarter, with Q4 21/22 LFL sales to 13 November on a 2-year basis up 13.2% and LFL sales up 0.4%.

Third-quarter sales fell 3.6% to £3.25 billion year-on-year, but rose 15% on a like for like basis compared with the same period two years ago.

Kingfisher said the next scheduled announcement will be our results for the year ending 31 January 2022, on 22 March 2022. Story provided by StockMarketWire.com