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Tag: boosted

Kingfisher profit boosted as pandemic drives DIY rediscovery

LONDON (Reuters) – The COVID-19 crisis has prompted consumers to rediscover the joy of home improvement, do-it-yourself (DIY) retailer Kingfisher KGF.L said, as it reported a 23% jump in first half profit.

FILE PHOTO: A general view as people queue outside a B&Q DIY store following the outbreak of the coronavirus disease (COVID-19), Watford, Britain, April 26, 2020. REUTERS/Paul Childs

Shares in the group, which owns B&Q and Screwfix in Britain and Castorama and Brico Depot in France and other markets, were up 7% at 0905 GMT on Tuesday, extending 2020 gains to over 30%, after it also said strong second quarter sales had continued.

Like-for-like sales in the second quarter to July 31 soared 19.5% and are up 16.6% in the third quarter so far.

The pandemic has meant people are spending more time at home, they have fewer leisure options and are traveling less.

“The crisis has prompted

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