Kingfisher matches forecasts

24th Mar 2011 07:29

Do-it-yourself retailer Kingfisher built profits by 19% last year, pretty much in line with market expectations.The B&Q owner made £671m in the year ended 29 January, up from £566m last time. The increase was 22.5% when adjusted for one-off items. Sales fell 0.5% to £10.45bn, in line, but rose 0.5% at constant currency. They dropped 0.9% on a like for like basis.Retail profit rose 15%, or over 16% at constant currency, as the French business added 12% to £348m, and UK & Ireland - B&Q and Screwfix - grew a fraction less to £243m. International was up 34% to £171m.Boss Ian Cheshire said the firm's 'Delivering Value' programme had been a "great success". It's now two years into the three-year seven-step programme to improve cash returns, due to complete next January.A final dividend of 5.145p a share means a full-year payout of 7.07p, 28.5% higher than teh year before.