Kingfisher posted a solid set of full-year results for the 12 months to 31 January 2026, with adjusted pre-tax profit rising 6% to £560m on the back of volume-led like-for-like sales growth of 1.4%.
Today’s figures demonstrated progress toward the group’s goals to transform the business by opening digital channels and focusing more on trade.
Trade sales now account for 30% of group revenue, up from 27% a year earlier, while e-commerce penetration hit 21% and marketplace GMV surged 58% to £518m.
Kingfisher results are all the more commendable given the challenging backdrop for consumers, especially in the UK, where the unemployment rate is rising, and GDP growth is grinding to a halt.
Garry White, Chief Investment Commentator at Charles Stanley, said: “It has been a challenging few years, but B&Q‑owner Kingfisher today delivered a solid full‑year earnings report showing robust profit growth and steady operational momentum. Adjusted pre‑tax profits came in ahead of guidance, and the group announced a further £300m share buyback. Management can be rightly pleased with these results.”
The UK was the standout, with B&Q and Screwfix both delivering LFL growth above 3%, helped by trade and e-commerce initiatives, favourable spring weather and some benefit from Homebase store closures.
“While group sales grew modestly by 1.3%, gross margins expanded a healthy 80 basis points to 38.1%, driving a 6% rise in adjusted pre-tax profit to £560m. B&Q and Screwfix delivered strong UK like-for-like growth, boosted by trade and digital channels which continue to gain significant penetration,” said Adam Vettese, market analyst for eToro.
“Continental Europe remains tougher, with France and Poland feeling the pinch of subdued consumer demand and big-ticket weakness, but disciplined cost control and inventory management have more than offset these headwinds.”
Kingfisher is guiding for adjusted PBT of £565m to £625m in the current year with free cash flow expected between £450m and £510m. Modest progress, but should be seen as a win in the current environment.