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Britain's Kingfisher sees profit rise on pandemic DIY mini boom

LONDON, Sept 22 (Reuters) - Home improvement retailer Kingfisher reported a 23.1% rise in first half profit, driven by a strong sales recovery in its second quarter as consumers took to do-it-yourself (DIY) and gardening projects during the COVID-19 pandemic.

The group, which owns B&Q and Screwfix in Britain and Castorama and Brico Depot in France and other markets, said on Tuesday it made an adjusted pretax profit of 415 million pounds ($531 million) in the six months to July 31, up from 337 million pounds in the same period last year.

“Looking forward, while the near term outlook is uncertain, the longer term opportunity for Kingfisher is significant,” the group said.

$1 = 0.7813 pounds Reporting by James Davey; editing by Sarah Young

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