- Pre-tax profit forecast down 7 per cent
- But ecommerce sales up 7 per cent
Kingfisher (KGF) saw its profits slashed by a third at the half-year mark, blaming bad weather and inflation. The home improvement retailer said the numbers were “slightly ahead of expectations” but cut its full-year pre-tax profit forecast from £634mn to £590mn as it anticipates tougher trading conditions going forward. The shares sank 7 per cent in early trading as the market registered its disapproval.