Kingfisher Posts Drop In H1 Profit

Kingfisher PLC

reported a drop in its first-half profit. Kingfisher's sales for the period fell to GBP5.48 billion, from GBP5.66 billion, in the year-ago period. Kingfisher's pretax profit dropped to GBP364 million from GBP438 million, while net profit fell to GBP259 million from GBP321 million. Its adjusted pretax profit declined 15% to GBP371 million, from GBP439 million. Kingfisher shares fell 2.69% to close at $8.67 yesterday.