Kingfisher (LSE:KGF) shares rose 3.5% on Tuesday, to 302.4p, after the group said Q1 trading was on track to deliver full‑year adjusted profit before tax of c.£565m–£625m and free cash flow of c.£450m–£510m.
Group sales including marketplace gross merchandise sales rose 0.8% in Q1 while underlying like‑for‑like (LFL) sales were down 0.7% against a strong prior‑year comparator, Kingfisher, the international home improvement retailer, said.
"We delivered a resilient start to the year, executing well and gaining market share against a soft market backdrop," said Thierry Garnier, Chief Executive.
E‑commerce and trade momentum powered the quarter with group e‑commerce penetration at 22%, e‑commerce sales up 14% ex‑Screwfix, marketplace GMV up 39% to £163m, trade sales up 17% ex‑Screwfix and group trade penetration reaching 31%.
Screwfix delivered LFL growth of 4.1% and recorded market share gains, while B&Q LFL fell 4.1% as a late start to spring hit footfall and big‑ticket bathroom demand.
Regional outperformance included Iberia LFL +6.6% and continued strong store LFL growth for Screwfix France at +55%.
Key guidance assumptions include a space‑driven sales impact of c.+1%, net finance costs of c.£105m, an adjusted effective tax rate of c.26%, capex of c.£400m and c.£13m of non‑recurring 2025/26 losses.
The group said a £300m share buyback is ongoing and its next reporting milestone is half‑year results on 22 September.
