Kingfisher Profits Lower, Sees Softer UK Demand

Kingfisher, Europe's biggest home improvements retailer, reported a 0.8 percent fall in third-quarter profits on Thursday and said UK consumer demand is widely anticipated to soften further in the coming months.

Kingfisher, which owns UK market leader B&Q and France's Castorama, said retail profit was 171.7 million pounds ($354.4 million) for the three months to Nov. 3, down from 173 million the year before, on revenue up 7.4 percent at 2.41 billion.

The retailer had been expected to report profits of around 168.1 million pounds according to the average of a Reuters poll of six analysts, within a range of 161.8-173.0 million.

Group like-for-like sales rose 1.9 percent in the quarter, down from growth of 4.3 percent in the first half, and compared with the average forecast of five analysts in a Reuters poll of 2.4 percent growth, within a range of 1.2-3.0 percent growth.