Kingfisher, the international home improvement retailer behind B&Q, Screwfix, Castorama, and Brico Dépôt, reported £404 million in adjusted profit before tax for the first half of fiscal 2026/27, representing a 9.9% increase from £368 million a year earlier. Following the results, the company raised its full-year adjusted profit guidance to £595 million to £635 million, compared with its previous forecast of £565 million to £625 million.
For the six months ended July 31, 2026, Kingfisher generated £6.86 billion in statutory sales, an increase of 0.8% from £6.81 billion during the corresponding period in the previous fiscal year.
Total sales, including marketplace gross merchandise sales, reached approximately £7.11 billion, representing growth of 2.6% on a reported basis and 1.6% at constant exchange rates.
The company’s profitability improved despite mixed conditions across European home improvement markets.
Gross profit increased to £2.63 billion from £2.57 billion, while gross margin expanded by 70 basis points to 38.4%.
Retail profit rose to £489 million from £452 million, with the retail profit margin increasing to 7.1% from 6.6%.
Kingfisher’s adjusted profit before tax benefited from higher gross margins, disciplined operating costs, and a £14 million one-time business rates refund in the United Kingdom. Excluding that refund, adjusted profit before tax increased by approximately 6.1%.
Statutory profit before tax increased 18.4% to £400 million, compared with £338 million a year earlier.
Adjusted basic earnings per share rose 16.1% to 17.8 pence, while statutory basic earnings per share increased to 17.3 pence from 13.4 pence.
The company’s performance reflected continued expansion across trade customers, e-commerce, and third-party marketplaces.
Trade sales increased 16% excluding Screwfix, while trade customers accounted for approximately 31% of total Group sales, an increase of three percentage points.
Kingfisher’s e-commerce business also expanded, with sales increasing approximately 16% excluding Screwfix. Online sales represented 22% of total Group sales, compared with approximately 20% during the prior-year period.
Marketplace gross merchandise value increased 42% to £372 million, generating £13.4 million in profit contribution, compared with £7 million a year earlier.
The company continues to expand its marketplace offerings, giving customers access to additional products through third-party sellers while generating incremental revenue without maintaining inventory for every product.
Among its major retail brands, Screwfix delivered particularly strong performance, with like-for-like sales increasing 5.6% during the first half.
Screwfix generated approximately £1.45 billion in sales, representing reported growth of 7% from £1.36 billion a year earlier.
Its trade customer business continued expanding, supported by increased loyalty program participation, additional product ranges, and digital initiatives.
The Screwfix Rewards program, introduced in October 2025, attracted more than 200,000 new customers during the first half, with approximately 44% of sales now coming from Rewards members.
Screwfix also reported continued growth in its rapid delivery offering, Screwfix Sprint.
B&Q, meanwhile, generated approximately £2.12 billion in first-half sales, compared with £2.17 billion a year earlier, representing a decline of 2.2%.
Its performance was affected by softer demand in certain home improvement categories and periods of unusually warm weather, which reduced physical store traffic.
However, B&Q’s digital business continued expanding. Its e-commerce sales grew 19%, while marketplace gross merchandise value increased 34% to £306 million.
Across Kingfisher’s international operations, the company reported market share gains at Screwfix, Castorama Poland, and its Spanish business, while B&Q and Castorama France broadly maintained their market positions.
The Group generated £339 million in free cash flow during the first half, compared with £478 million a year earlier.
Kingfisher maintained its interim dividend at 3.8 pence per share and continued its previously announced £300 million share repurchase program.
The company completed the first two tranches of the program, totaling £125 million, and announced the commencement of a further £50 million tranche.
Alongside the higher profit guidance, Kingfisher increased its full-year free cash flow forecast to £480 million to £520 million, compared with its previous range of £450 million to £510 million.
KEY QUOTE:
“We delivered a solid H1 performance, growing sales, gross margin and profits through market share gains and continued momentum across trade, e-commerce, marketplace and group sourcing. We are building a stronger, more resilient Kingfisher, with our strategic priorities creating new growth opportunities and strong financial discipline supporting performance across the business. While the consumer environment remains mixed, our consistent delivery, strategic progress and opportunities ahead give us the confidence to upgrade our guidance.”
Thierry Garnier, CEO Of Kingfisher
