7 months ago
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Company’s shares fall as it says it is to reduce costs, which suggests it could cut staff
The owner of B&Q and Screwfix has warned that profits will fall for the second year in a row as homeowners hold off on big projects including bathroom and kitchen refits amid a lacklustre housing market.
Kingfisher, which also owns DIY stores in France, Poland, Spain and Portugal under the Castorama and Brico Dépôt brands, expects underlying pre-tax profits to fall to between £490 and £550m for the 12 months to 31 January 2025, down 25% on the £560m analysts expected at the start of the year.
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