Kingfisher: stock flying after interim results
(CercleFinance.com) - The Kingfisher share is up 7% in London on Tuesday, in demand following the DIY group's publication of H1 results, including adjusted earnings that are up 27.
8% at 317 million pounds.
The group - which operates Castorama in France - saw its adjusted retail profit margin improve by 140 basis points to 9%, for revenues of 5.92 billion pounds, down 1.3% (-1.6% on a comparable basis and excluding currency effects).
Thierry Garnier, Chief Executive Officer, said, "We delivered a resilient financial performance in the first half of the year, with the adverse impact of COVID-19 in Q1 offset by a strong recovery in Q2. This recovery has continued into Q3 to date, with growth across all banners and categories".
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