MarketPR
Kingfisher has lifted its full-year adjusted pretax profit outlook to a range of £595 million to £635 million, up from the previous £565 million to £625 million, following a stronger-than-expected first half.
The home-improvement group also increased its free-cash-flow guidance to £480 million to £520 million from £450 million to £510 million. Kingfisher shares jumped approximately 9% after the announcement.
The upgrade was driven largely by the performance of Screwfix, which reported like-for-like sales growth of 5.6% in the six months to July.
This increase was fueled by higher volumes, increased spending from trade customers, and continued market-share gains that offset softer demand in other parts of the business.
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