March 26, 2013 / 7:16 AM / 5 years ago

Kingfisher year profit falls 11 pct

LONDON, March 26 (Reuters) - Kingfisher, Europe’s largest home improvements retailer, met forecasts with an 11.4 percent fall in year profit that reflected weather-hit sales, tough consumer markets and unfavourable foreign exchange movements.

The group, which runs market leader B&Q in Britain and trades as Castorama and Brico Depot in France, said on Tuesday it made an underlying pretax profit of 715 million pounds ($1.09 billion) in the year to Feb. 2.

That was in line with analysts’ consensus forecast but down from 807 million pounds made in 2011-12.

Kingfisher said it expected market conditions to remain tough but was confident about its own prospects.

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