On the 29th of November, Kingfisher Plc reported its third-quarter profit. According to a statement, the Europe’s largest home-improvement retailer saw a 6 percent drop in the period ended October 27 as sales declined in its main markets in France and the UK, not to mention that the company’s results were affected by unfavorable foreign exchange movements as well.
Kingfisher Plc, the Europe’s largest home-improvement retailer, published information on the first decline in mid-year earnings since 2006. Kingfisher Plc, which is the owner of B&Q, posted an adjusted pre-tax profit which was down approximately 15.5 percent to 371 million in the first half of the year, according to data. Company’s officials have blamed the wettest summer on record, foreign exchange movements and the cost of accelerating openings of new common brands in the UK for the latest decline in the Kingfisher Plc’s profits.