(Sharecast News) – B&Q owner Kingfisher said it expected current year profits to be at the top end of forecasts as fourth quarter like-for-like sales rose 16.9%, driven by people purchasing online amid tightening coronavirus restrictions.
Current sell-side analyst expectations for full year adjusted profit before tax are £667m to £742m, according to company-compiled consensus estimates at January 4.
“While the strength of our Q4 trading, to date, is reassuring, uncertainty over COVID-19 and the impact of lockdown restrictions in most of our markets continue to limit our visibility,” said chief executive Thierry Garnier.
“Longer term, we are confident that the strategic and operational actions we are taking are building a strong foundation for sustainable long-term growth. We also believe that the renewed focus on homes is supportive for our markets.”
