B&Q and Screwfix owner posts nearly 30% profit rise
By Richard Wright | 22nd March 2022
DIY retailer B&Q - with its largest UK store in Gloucester - has nailed its best ever year for sales and profit.

Parent company Kingfisher, which also owns Screwfix, reported sales topping £13 billion, up 6.8% on the previous year. That brought in a pre-tax profit of £949 million, up by 20.9%, for the year ended 31st January.
Thierry Garnier, chief executive officer, said: "Kingfisher has delivered a year of very strong financial performance. We saw growth in all banners and categories, with resilient demand from both DIY and trade segments - each representing 50% of Group sales."
The company has continued to expand its e-commerce operation, with faster click & collect and home delivery, and broader product choices for customers. 18% of its sales are now made online, which is 10% points higher than two years ago.
B&Q had an outstanding year, with sales passing £4 billion. It was also a record year of expansion for Screwfix, with 70 new stores opening in the UK and Ireland, and Screwfix France showing promising early progress.
Garnier added: "For the year ahead, while the macroeconomic and geopolitical environment is uncertain, you can expect from us continued focus on top line delivery and market share growth, strong execution, effective management of our gross margin, and active and responsive management of our operating costs."
The company, which says it managed to successfully negotiate supply chain and inflationary pressures, is opening new stores in Poland and also plans to increase its trade customer base.
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