LONDON: Kingfisher, Europe's No. 1 home improvement retailer, posted an 11.8 percent decline in third quarter profit, hurt by a tough French market and foreign currency movements.
The firm, which trades as B&Q and Screwfix in Britain and Castorama and Brico Depot in France, said on Tuesday it made a retail profit of 225 million pounds ($353 million) in the 13 weeks to Nov. 1.
That compared to analyst's average forecast of 227 million pounds and was down from 271 million pounds made in the same period last year. Total sales fell 3.6 percent to 2.82 billion pounds.
The firm said it remained cautious on the outlook, especially in France.
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