B&Q profits from increase in DIY

B&Q says more people are now interested in DIY

B&Q owner Kingfisher has seen its half-year profits increase by more than a third, saying it was benefiting from a "renewed consumer interest" in DIY.

The retail group made a pre-tax profit of £288m in the six months to 1 August, up 34% from £214m a year earlier.

Sales at the firm, which also owns French home improvement chain Castorama, were up 7% to £5.1bn.

Kingfisher said its profits had also been lifted by increased margins and continuing cost-cutting work.

Analyst Richard Hunter, head of UK equities at Hargreaves Lansdown Stockbrokers, described Kingfisher's results as a "fine performance".

He said factors behind this included "seasonally good weather, the removal of competition such as MFI, a close eye on cost and stock control and the revamping of its offerings".