Kingfisher (LSE: KGF) FY17 Results: Profits Jump Against Weak Comparatives

Executive Summary

• UK-based DIY giant Kingfisher reported a 7.5% jump in FY17 statutory total sales, helped by the depreciation of the British pound. On an adjusted and constantcurrency basis, total sales were up 1.7%.
• FY17 revenues of £11,225 million were marginally ahead of consensus of £11,207 million.
• Due to exceptional restructuring costs in the prior year, operating profit jumped 47%. Underlying basis EPS climbed 17.7% to 25.9 pence and beat expectations.