Kingfisher, the home improvement retailer, has reported a rise of 3.3 percent in its sales for the FY 2011 on a constant currency basis and rose 3.6 percent to £10.8 billion on a reported rate basis.
Profit for the year grew by 30.1 percent to £639 million, which resulted in posting basic profit earnings per share of 27.5 pence.
"I am pleased we have delivered another year of strong profit growth, our third such year in a row. In what remain challenging times for our customers, these results are testament to the dedication of our talented colleagues around the world. We have much more to do, but I believe Kingfisher is now well on the way to fulfilling its potential as the industry leader in home improvement. This is an exciting prospect for both our colleagues and our shareholders. Industry leadership will bring with it an outperformance in sales, profit and economic return, making Kingfisher a more valuable business," said CEO Ian Cheshire while commenting on the results.
Retail profit before exceptional items grew by 15.7% to £882 million and by 15.1% to £870 million including exceptional items.
Looking ahead, Kingfisher starts the FY 2012 with a clear sense of purpose and new ambition and is expected to open 67 new stores in 2012-13.
"Today we are embarking on the next phase of this journey. Our 'Creating the Leader' programme will see us emerge as a world-class retailer, helping customers have better, more sustainable homes. Whilst the immediate economic outlook remains uncertain, we face the future in robust shape and with our successful self-help approach now embedded in the way we do business," adds Ian.
The group declared a full year dividend of 8.84 pence per share.