B&Q owner sees profits tumble and warns over earnings for the year ahead

B&Q owner Kingfisher has revealed annual profits slumped by more than a quarter and warned over another steep fall in earnings this year as it overhauls its French arm to help revive its fortunes

Kingfisher, which owns the Screwfix chain and brands including Castorama and Brico Depot in France, said like-for-like sales tumbled by 5.9% in France and 7.7% elsewhere across Europe. Kingfisher announced a turnaround plan for its beleaguered French arm, including a store restructuring and shop revamp plan, to help boost its flagging performance in the region.

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Pierre Yovanovitch acquires historic French furniture company d'ArgentatRosa Bertoli was born in Udine, Italy, and now lives in London. Since 2014, she has been the Design Editor of Wallpaper*, where she oversees design content for the print and online editions, as well as special editorial projects. Through her role at Wallpaper*, she has written extensively about all areas of design.
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