Daily Express

B& Q OWNER’S PROF­ITS SOAR BY 62%

- Business

THE owner of B& Q has started the sec­ond half of the year “with a bang”, an­a­lysts said, as King­fisher re­ported only a small hit from the Covid- 19 pan­demic.

Sales were down by 1.3 per cent in the first six months of the year, King­fisher said, but pre- tax profit grew by 62 per cent to £ 398mil­lion. Most of its rev­enue hit came in the

first quar­ter of the year, and the busi­ness has re­cov­ered well, even reach­ing dou­bledigit growth in the third quar­ter. “Trad­ing into the sec­ond half has started with a bang,” said James Grzinic, an an­a­lyst at Jef­feries.

Chief ex­ec­u­tive Thierry Garnier said peo­ple had re­dis­cov­ered their homes dur­ing lock­down.

 ??  ?? DE­MAND: B& Q said peo­ple re­dis­cov­ered their homes in lock­down
DE­MAND: B& Q said peo­ple re­dis­cov­ered their homes in lock­down

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