Kingfisher Q3 profit decreases

Kingfisher plc, a home improvement retailer, has reported that profit for the third quarter ended October 27, 2102 was GBP257 million, a decrease of 5.9%, compared to the same quarter of 2011.

Sales for the third quarter ended October 27, 2102 were GBP2.7 billion, a decrease of 3.9%, compared to the same quarter of 2011.

Profit for the nine months ended October 27, 2102 was GBP660 million, a decrease of 11.5%, compared to the same period of 2011.

Sales for the nine months ended October 27, 2102 were GBP8.18 billion, a decrease of 3.5%, compared to the same period of 2011.

Ian Cheshire, Group CEO, said: "Following a particularly tough first half, I am pleased that our teams' hard work has delivered a solid profit performance in our third quarter, one of our most significant trading periods in the year. Our markets remain challenging, with consumer confidence still weak and so we maintain our strong focus on margin, costs and cash.

"Kingfisher is in good shape and I remain enthusiastic about our longer-term prospects under our new 'Creating the Leader' programme which will establish us as a world class retailer at helping customers have better and more sustainable homes."