Business
Final Results (Part 1 of 2)
Final Results (Part 1 of 2).
About this update from Kingfisher Plc
[{"type":"text","content":"\n\nFinal results for the year ended 31 January 2025\n \nStrong delivery against strategic objectives & market share gains in all key regions\n \n\n\n\n\n\n\n\n\nFinancial summary\n\n\n2024/25\n\n\n2023/24\n\n\n% Total change (reported)\n\n\n% Total change (constant*)\n\n\n% LFL* change\n\n\n\n\nSales\n\n\n£12,784m\n\n\n£12,980m\n\n\n(1.5)%\n\n\n(0.8)%\n\n\n(1.7)%\n\n\n\n\nGross margin %*\n\n\n37.3%\n\n\n36.8%\n\n\n+50bps\n\n\n+50bps\n\n\n\n\n\n\n\nOperating profit\n\n\n£407m\n\n\n£580m\n\n\n(29.7)%\n\n\n\n\n\n\n\n\n\n\nStatutory pre-tax profit (PBT)\n\n\n£307m\n\n\n£475m\n\n\n(35.4)%\n\n\n\n\n\n\n\n\n\n\nStatutory basic EPS\n\n\n10.1p\n\n\n18.2p\n\n\n(44.7)%\n\n\n\n\n\n\n\n\n\n\nNet cash flows from operating activities\n\n\n£1,302m\n\n\n£1,321m\n\n\nn/a\n\n\n\n\n\n\n\n\n\n\nTotal dividend(1)\n\n\n12.40p\n\n\n12.40p\n\n\n-\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAdjusted metrics\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nRetail profit*\n\n\n£696m\n\n\n£749m\n\n\n(7.0)%\n\n\n(6.6)%\n\n\n\n\n\n\n\nRetail profit margin %*\n\n\n5.4%\n\n\n5.8%\n\n\n(40)bps\n\n\n(30)bps\n\n\n\n\n\n\n\nAdjusted pre-tax profit (PBT)*±\n\n\n£528m\n\n\n£568m\n\n\n(7.0)%\n\n\n\n\n\n\n\n\n\n\nAdjusted basic EPS*\n\n\n20.7p\n\n\n21.9p\n\n\n(5.2)%\n\n\n\n\n\n\n\n\n\n\nFree cash flow*\n\n\n£511m\n\n\n£514m\n\n\n(0.6)%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n* See page 3 for further details on non-GAAP measures and other terms; ± Includes £33m of one-off business rates refunds at B&Q in 2024/25\n \nThierry Garnier, Chief Executive Officer, said:\n\"For the first time in over six years, we grew our market share in all key regions. We delivered profit and free cash flow in line with or ahead of our initial guidance, with strong delivery against our strategic objectives. Our e-commerce marketplaces are now live in the UK & Ireland, France, Poland and Iberia, and growing strongly with total GMV up 62%. Our trade sales penetration, excluding Screwfix, reached 17.9% in January, up 4.9%pts, with rapid progress being made in France and Poland. Our restructuring of Castorama France is progressing and we have accelerated our plans. As expected, the wider market backdrop was a headwind, though we maintained our laser focus on managing costs and cash, removing £120m of structural costs and lowering same-store inventory by over £10...