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Commercial Property News
Kingfisher sees 2009 profits rise
Kingfisher, owner of the B&Q and Screwfix brands, saw its adjusted pre-tax profit rise by 49% to £547 million in the year to January 30th 2010.
The company, which also posted a 64.5% increase in profits across its UK and Ireland operations, said it revamped nine large and eight medium commercial properties over the course of the year.
It also revealed plans to refurbish a further 15 large and 15 medium shops and conduct around 100 renovations of its kitchen, bathroom and bedroom showroom areas.
However, it stated it has no plans to expand into new business property during 2010.
Group chief executive Ian Cheshire noted the company recorded "a strong improvement in performance" over the course of the 12 months.
"Looking ahead, we remain cautious on the outlook for consumer demand across Europe," he remarked, adding the firm is "confident" it will be able to continue growing during the period.
Kingfisher operates 330 B&Q stores across the UK and Ireland, as well as 43 outlets in China.
The company, which also posted a 64.5% increase in profits across its UK and Ireland operations, said it revamped nine large and eight medium commercial properties over the course of the year.
It also revealed plans to refurbish a further 15 large and 15 medium shops and conduct around 100 renovations of its kitchen, bathroom and bedroom showroom areas.
However, it stated it has no plans to expand into new business property during 2010.
Group chief executive Ian Cheshire noted the company recorded "a strong improvement in performance" over the course of the 12 months.
"Looking ahead, we remain cautious on the outlook for consumer demand across Europe," he remarked, adding the firm is "confident" it will be able to continue growing during the period.
Kingfisher operates 330 B&Q stores across the UK and Ireland, as well as 43 outlets in China.
Thu, 25th Mar 2010