Kingfisher Warns of Lower Profits Amid Slowing DIY Market Trends

Monday, 25 March 2024, 10:32

Kingfisher, the owner of B&Q and Screwfix, predicts a significant decrease in profits due to the reluctance of homeowners to undertake major renovation projects, such as bathroom and kitchen refits. The company's announcement has led to a decline in its shares and is raising concerns about cost-cutting measures. As the housing market remains lackluster, Kingfisher's projected profit drop for 2025 signals a challenging year ahead.
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Kingfisher Warns of Lower Profits Amid Slowing DIY Market Trends

Kingfisher's Profit Warning Impact

The owner of B&Q and Screwfix, Kingfisher, has announced a probable decrease in profits for the second consecutive year. This forecast is attributed to the hesitance of homeowners in pursuing substantial renovation projects, such as bathroom and kitchen refits, amidst a subdued housing market.

Cost-Cutting Measures on the Horizon

The company indicates plans to reduce costs, potentially leading to staff cuts. This strategic shift can have wide-reaching implications for Kingfisher's operational structure and workforce.

Analysts' Expectations vs. Reality

Kingfisher's anticipated underlying pre-tax profits for the fiscal year ending in January 2025 are significantly lower than initial projections – potentially a 25% decrease from expectations set at the beginning of the year.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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