Kingfisher to return capital as profits rise
LONDON, March 25
LONDON, March 25 (Reuters) - Kingfisher, Europe's largest home improvements retailer, said it would return about 200 million pounds ($330 million) to shareholders in the current year as it met forecasts with a 4.1 percent rise in 2013-14 profit.
The group, which runs market leader B&Q and Screwfix in Britain and trades as Castorama and Brico Depot in France, also said on Tuesday it would look for a strategic partner for B&Q China, aiming to replicate the partner approach it adopted in Turkey.
Kingfisher made an underlying pretax profit of 744 million pounds in its 2013-14 year.
That compared with analysts' forecasts in a range of 738-748 million pounds and 715 million pounds made in the 2012-13 year.