Articles

3 FTSE Retail Stocks in Focus After Kingfisher Shares Surge

by Scarlett S. Stock Market Analyst

UK-based home improvement retailer Kingfisher PLC (LON: KGF) announced its total sales increased by 6.8 per cent to £12.3 billion in the financial year ended on 31 January due to a new generation of DIY enthusiasts amid the pandemic in 2020.

 

According to a survey conducted by the company in February this year, about 20 per cent of people in the 18-34 age bracket had attempted Do It Yourself (DIY) activities for the first time during the lockdown. Kingfisher owns DIY chains, such as B&Q, Screwfix, Castorama and Brico Depot.

 

The company also reported that its FY2021 statutory profit before tax stood at £756 million from £103 million the year before. However, the previous year’s figure was also lower due to the payment of some exceptional costs.

 

Also Read: Kingfisher Plc (LON: KGF) May Beat Profit Expectations on Surge in DIY Demand

 

Thierry Garnie, CEO at Kingfisher, said the lockdown-induced longer trend was proving to be supportive for the industry.


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About Scarlett S. Advanced   Stock Market Analyst

37 connections, 0 recommendations, 172 honor points.
Joined APSense since, July 17th, 2019, From Sydney, Australia.

Created on Mar 23rd 2021 02:55. Viewed 313 times.

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