Kingfisher PLC (KGF.L), a homeimprovement company, on Tuesday reported higher pre-tax profit for the first half, primarily helped by an increase in sales. The company also raised its full-year guidance.
Pre-tax profit for the first half rose to 3338 million pounds from 324 million pounds for the corresponding period last year.
Excluding one-time items, adjusted pre-tax profit was 368 million pounds, 10.2% up from last year's 334 million pounds.
Operating profit grew 2.1% year-on-year to 383 million pounds.
Profit after tax was 237 million pounds or 13.4p per basic share compared with 237 million pounds or 12.8p per basic share a year ago.
Adjusted profit after tax rose 11.5% to 271 million pounds or 15.3p per basic share from 243 million pounds or 13.2p per basic share last year.
Sales for the period increased 0.8% to 6.811 billion pounds from 6.756 billion pounds for the previous year.
The Board has declared an interim dividend of 3.80p per share, to be paid on November 14, to shareholders of record on October 10.
For the full year, the company now expects adjusted pre-tax profit to be at the upper end of its previously provided outlook of 480 million pounds to 540 million pounds.
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