Kingfisher has a tale of two markets, and one is doing better than the other.
B&Q and Screwfix are flying. Castorama France is struggling. Kingfisher’s full-year results tell a familiar story: strong UK performance propping up weaker continental brands, with total sales growth barely nudging into positive territory at just 0.2%. The headline profit number — adjusted pre-tax profit of £560m, up 6% — is encouraging, but the geographical split is keeping a lid on the bigger picture.
The Numbers in Full
Kingfisher’s UK brands delivered, with B&Q and Screwfix both growing sales by more than 3%. The overseas story was the reverse:
- Castorama France: -2.2%
- Brico Depot France: -2.3%
- Poland: -1.1%
The French Castorama brand is suffering most from the collapse in appetite for big-ticket purchases — kitchen renovations and the like fell 4.5% year on year. That mirrors a broader consumer trend across Europe, where households are still cutting back on discretionary spending.
Kingfisher’s share price responded positively, rising 2% to 302p in early trading. That leaves the stock up 8% over the past year but still down more than 10% from its pandemic-era DIY boom peak.
What’s Working in the UK
The UK story is genuinely positive. B&Q and Screwfix’s outperformance is being driven by a clear strategy: e-commerce investment, strong seasonal trading, and an aggressive push into the trade customer segment.
Screwfix opened 32 new locations (and closed 5), while B&Q opened 10 new stores — eight of them converted from former Homebase outlets — and closed 3, resulting in 41 net openings across Kingfisher’s global brands. The firm is betting that tradespeople — who visit more often and spend more than typical consumers — are a more resilient customer base. Trade sales grew 5% at B&Q and 4% at Screwfix. Castorama Poland, bucking the broader overseas trend, saw trade sales jump 47%.
Kingfisher has also been trimming costs aggressively, offloading £120m in excess overhead last year.
What’s Holding It Back
The big-ticket problem is real and persistent. Brits — and Europeans generally — remain reluctant to spend on kitchen and bathroom renovations. Kingfisher’s French brands, like rival Wickes in the UK, are feeling that most sharply.
The company is optimistic that spring will provide a seasonal uplift for B&Q, and that the UK’s ageing housing stock creates an enduring structural case for home improvement demand. A new £300m share buyback programme — the latest in a series since 2021, totalling £1.2bn repurchased overall — signals management’s confidence in the balance sheet.
Key Takeaways
Kingfisher is a stock of two halves: a strong UK engine and a continental drag. Until France and Poland turn around, overall growth will stay modest. The good news is that the UK brands are demonstrating exactly the kind of focused, trade-led strategy that can sustain momentum.
FAQ
What was Kingfisher’s adjusted pre-tax profit for 2025/26?
Kingfisher posted an adjusted pre-tax profit of £560m, up 6% year on year and in line with analyst expectations.
How did B&Q and Screwfix perform?
Both UK brands grew sales by more than 3%. Screwfix opened 32 new stores and B&Q opened 10 — eight of which were conversions of former Homebase outlets.
Why are Kingfisher’s French brands struggling?
Castorama France and Brico Depot both saw sales decline, with big-ticket purchases like kitchen renovations falling 4.5% year on year. French consumers are cutting back on discretionary spending.
What is Kingfisher’s new share buyback programme?
Kingfisher announced a new £300m share buyback, bringing the total repurchased since 2021 to £1.2bn.
What is Kingfisher’s trade sales strategy?
The company is focusing on tradespeople as a growth driver, having created specialist trade zones in stores. Trade sales grew 5% at B&Q, 4% at Screwfix and 47% at Castorama Poland.
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Effective Date: 15th July 2025
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