Kingfisher profit up 62% on home improvement boom

© Reuters/John Sibley FILE PHOTO: The spread of the coronavirus disease (COVID-19) in London

LONDON (Reuters) – British home improvement retailer Kingfisher reported a 61.6% jump in first-half profit on the back of a pandemic do-it-yourself boom and raised its sales expectations for the second half.

The group, which owns B&Q and Screwfix in the United Kingdom and Castorama and Brico Depot in France and other markets, made an adjusted pretax profit of 669 million pounds ($914.3 million)for the six months ended July 31 – ahead of guidance of 645-660 million pounds and up from 415 million pounds in the same period last year.

($1 = 0.7317 pounds)

(Reporting by James Davey, Editing by Paul Sandle)

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