B&Q owner Kingfisher plc has reported adjusted annual pre-tax profits of £386m, a 2.8% decline on a year ago.
Kingfisher chairman Peter Jackson said the last year had been “challenging”, with increased global economic uncertainty impacting consumer confidence, particularly in the UK.
But Mr Jackson also reported good progress, with B&Q making a major step forward in improving its offering to customers and modernising more store space than ever before.
Kingfisher has appointed Ian Cheshire as group CEO to drive through changes “necessary to improve returns”.
Group retail sales were £9.3bn, a 7.9% improvement (2.6% on a like-for-like basis.
