Shares in Kingfisher (LSE: KGF) rallied sharply on Tuesday morning after the B&Q and Screwfix owner reported a broadly reassuring first-quarter trading update, reaffirming full-year profit guidance and highlighting strong momentum in its key strategic growth areas.
The stock surged as much as 8.3% to an intraday high of 316p before paring some of those gains to trade around 303.4p, still up approximately 3.8% on the day. The move came as investors welcomed the company’s confidence in delivering adjusted pre-tax profit of between £565m and £625m for FY 2026/27.
Total group sales for the quarter reached £3.3bn, up 1.4% on a reported basis, while underlying like-for-like sales fell a modest 0.7% — a figure Kingfisher attributed largely to a late start to spring, which dampened footfall and dented seasonal and big-ticket demand. When adjusting for the calendar impact, the underlying LFL decline was a marginal 0.7%, against what the company described as a “strong prior year comparator.”
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Screwfix was once again a standout performer, delivering LFL growth of 4.1% and significant market share gains, while Iberia posted an impressive 6.6% LFL increase. B&Q bore the brunt of the weather headwinds, with LFL sales down 4.1%.
More encouragingly, Kingfisher’s strategic growth engines continued to fire. Trade sales grew 17% excluding Screwfix, while e-commerce revenues climbed 14% on the same basis, with marketplace gross merchandise value surging 39% to £163m.
Chief Executive Thierry Garnier said the group had delivered “a resilient start to the year,” adding that it remained “absolutely focused on delivering our strategy, disciplined gross margin and cost management, and consistent shareholder returns.” The ongoing £300m share buyback programme provided further support for investor sentiment.
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