Kingfisher further revises its annual objectives downwards

The group had already announced in mid-September that it was lowering its forecasts for the current financial year, indicating that it was counting on an adjusted profit before tax of 590 million pounds (684 million euros), and no longer on an "analyst consensus" of 634 million pounds which he has taken over until now.

On Wednesday, it now said it expected an adjusted pre-tax result of 560 million pounds for its financial year ending at the end of January, due in particular to a "weakness in the French market".

"In France, our performances were affected by the weakness of the distribution market, and by a delay in the start of sales of insulation, plumbing and heating products, categories which are particularly represented at Brico Dépôt due to an exceptionally warm autumn and a high basis of comparison last year in these categories", detailed Thierry Garnier, general director.

He also specified that the brands in the United Kingdom had for their part "performed well in the third quarter, with an increase in sales and market shares of B&Q, TradePoint and Screwfix", while in Poland, "we "We are observing the first signs of recovery, in an economic and consumption context which is gradually improving."

Kingfisher announced on Wednesday a turnover in the third quarter of 3,239 million pounds, compared to 3,263 million a year earlier, a decline of 2,1%.

In France, sales were down 8,7%, while they increased by 3,3% in the United Kingdom and Ireland.

“As for the medium to long term outlook, we remain very optimistic about the growth of home improvement in our markets and our ability to grow faster than our markets,” said Thierry Garnier.