Kingfisher reveals second quarter results

<p>Kingfisher had a strong second quarter, the firm reveals.</p>

Kingfisher has revealed that it enjoyed a strong performance in the second quarter of the year, thanks to the improved weather conditions in the UK.

The company, which is the parent firm of B&Q, Castorama and Brico Depot in France, announced that its pre-tax profits for the six months to August 3rd were 10.2 per cent higher, at £401 million.

Chief executive Ian Cheshire stated that the first quarter had been "difficult" for the business, but it has been able to bounce back between May and July.

He said: "We were able to capitalise on the better weather in the second quarter, particularly in the UK."

Outdoor goods sales, having dropped by 11 per cent in the first quarter, rebounded to record a 17 per cent hike in Q2.

Despite Mr Cheshire stating that the company is happy with the results, the share price of Kingfisher has fallen during trading today (September 11th).

At 16:01 BST, its stocks were selling for 3.48 per cent less than at the start of the session.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.