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Kingfisher PLC profits go through the roof as COVID lockdown leads to home improvement boom

eCommerce sales represented 19% of group sales in the half-year compared to 7% a year earlier

() saw its profits and cash flow go through the ceiling in the first half of the year as demand for home improvement took off during the coronavirus (COVID-19)  lockdown.  

But while the group’s directors plan to repay UK furlough payments back to the government, provided another prolonged national lockdown is not forthcoming, there is no plan of reinstating the dividend yet. 

The DIY stores chain saw group sales fall by 1.3% to £5.9bn in the six months ended July 31, 2020, as like-for-like sales (LFL) dropped 1.6%, with growth at B&Q in the UK, along with the Poland and Romania businesses offset by declines in the UK’s Screwfix, both French chains, Russia, Spain and Portugal.

The second quarter from May onwards saw LFL sales rise 19.5%, with growth in all the group’s areas

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