Kingfisher, who own B&Q, have announced an expected 20% rise in profits even though there has been a fall in home improvement and heating sales. Their strong sales in France and better sales through Screwfix have balanced poorer sales in B&Q in the UK. They are expected to report a £799m profit this year compared to £670m last year.
The group have benefited in the last year from the closure of Focus DIY, and saw Kingfisher buy 29 of their stores. They now have approximately 900 stores across eight countries and are the world’s number 3 home improvement retailer after Lowe’s and Home Depot, both US based.