By Editor,Emily Hawkins
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Kingfisher shares rocket as ‘resilient’ UK consumer lifts B&Q owner
‘Strong’ B&Q and Screwfix demand helps offset sharp rise in costs
By EMILY HAWKINS
Updated: 09:21 BST, 23 September 2025
B&Q owner Kingfisher has defied gloom on the High Street with a profit upgrade that sent shares soaring.
Chief executive Thierry Garnier said the DIY retailer was buoyed by a ‘resilient consumer’ in the UK as sales in the country rose 3.9 per cent to £3.5billion in the six months ended 31 July.
Bosses at the chain, which also owns Screwfix in the UK and Castorama in France, now expect annual profits to reach the upper end of a range between £480million to £540million.
FTSE 100-listed Kingfisher shares soared 19.5 per cent to 301.4p in early trading on Tuesday, despite bleak mood music building among retailers ahead of the Budget.
Total sales rose 1.3 per cent to £6.8billion while half-year profits were up 10.2 per cent to £368million, as the retailer credited strong sales of its kitchen and bathroom ranges.
Chief executive Thierry Garnier said the DIY retailer was buoyed by a ‘resilient consumer’ in the UK
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Garnier said he was ‘mindful and watching’ ahead of the November Budget after Kingfisher said it took a £145million hit in higher wages, taxes and inflation this year.
‘We are mindful of what is ahead of us with the budget, with inflation that is still high, especially with food,’ he added.
This comes as the British Retail Consortium warned it expects food inflation to remain well above 5 per cent into next year – setting off more alarms over Brits’ living standards.
‘We are still seeing relatively high inflation in some parts of retail, we have the uncertainty of the Budget, we have some signs of softness in the labour market,’ Garnier admitted.
Garnier said reforms of the levy on commercial properties were a ‘key concern’ for the retailer.
Kingfisher, which operates many large stores, stands to be hit by Labour’s proposals to charge bigger premises higher rates. Garnier insisted it was ‘too early’ to say how changes would impact the chain but said he hopes Labour will fix the ‘unfair’ system.
The retailer said it expected to fully mitigate the £145million increase through cost initiatives.
Its B&Q brand announced it would slash more than 650 jobs in a shake-up earlier this month.
We’re still on a roll – thanks to Britain’s builders, says Screwfix boss
Kingfisher is seen as one of the country’s most reliable retailers after its profits surpassed the £1billion mark for the first time in 2022, following a flurry of pandemic-era home improvement.
Garnier said: ‘We delivered a strong first half with high quality underlying like-for-like sales growth of 1.9 per cent, driven by increased volumes and transactions.’
He added: ‘Our expectations for our markets for the year remain consistent with what we outlined in March, whilst mindful of mixed consumer sentiment and political uncertainty.
Garry White, chief investment commentator at Charles Stanley, said: ‘Kingfisher’s interim results reflected a business navigating persistent headwinds in the home improvement sector, with sales growth largely flat as the post-pandemic DIY boom continues to fade.
‘Despite challenging conditions in the UK and France, the group maintained its market share and kept profits broadly in line with expectations, underpinned by tight cost control and a focus on trade customers.’
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Kingfisher shares rocket as ‘resilient’ UK consumer lifts B&Q owner
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