LONDON (dpa-AFX) - Home improvement retailer Kingfisher plc (KGF.L) reported
Monday that its pre-tax profit for fiscal year ended January 31 fell 22.3
percent to 475 million pounds from last year's 611 million pounds.

Post-tax profit was 345 million pounds, down 26.7 percent from a year ago.
Basic earnings per share dropped 23.5 percent to 18.2 pence from last year's
23.8 pence.

Adjusted pre-tax profit was 568 million pounds, compared to 758 million pounds a
year ago. Adjusted earnings per share were 21.9 pence, compared to prior year's
29.7 pence.

Sales for the year dropped 0.6 percent to 12.98 billion pounds from last year's
13.06 billion pounds. Sales fell 1.8 percent at constant exchange rates, and 3.1
percent on a like-for-like basis.

Further, the company proposed total dividend for the year of 12.40 pence per
share, same as last year.

Regarding the current trading, the company said its first-quarter LFL sales to
date was down 2.3 percent. The company recorded improved sales trend in the UK &
Ireland, France and Poland, compared to the fourth quarter.

For the new year, Kingfisher projects adjusted profit before tax of around 490
million pounds to 550 million pounds.

The company sees around 120 million pounds of additional cost reductions and
productivity gains to partially offset higher pay rates and technology
investments.

'In the short term, while repairs, maintenance and renovation activity on
existing homes continue to support resilient demand, we are cautious on the
overall market outlook for 2024 due to the lag between housing demand and home
improvement demand', the company noted.

Further, the firm reaffirmed medium-term financial priorities, focused on
growth, and cash generation.

The company said it is strongly positioned for growth in 2025 and beyond.

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