Business
Sales surge as DIY giant capitalises on Homebase store closures
Home improvement giant Kingfisher has significantly boosted its financial outlook, driven by robust trading across its UK brands, B&Q and Screwfix.
The retail group highlighted particularly strong sales at B&Q over the past six months, attributing this success to the market impact of Homebase store closures following its rival’s administration, alongside favourable weather conditions.
This strong performance has propelled the company to anticipate profits reaching the “upper end” of its current targets.
Kingfisher informed shareholders on Tuesday that pre-tax profits for the half-year ending July 31 climbed by 4.1 per cent to £338 million compared to the previous year.
The London-listed firm now expects to achieve an adjusted profit at the higher end of its £480 million to £540 million guidance for the current financial year.
Furthermore, the company has revised its cash flow projections upwards, now forecasting between £480 million and £520 million, an increase from its earlier guidance of £420 million to £480 million.
The improved targets came on the back of stronger sales across the group’s brands, particularly in the UK.
Total group sales grew by 0.8 per cent to £6.81 billion for the six months, with like-for-like sales rising by 1.9 per cent.
Like-for-like sales were up 3.9 per cent in the UK, driven by growth of 4.4 per cent in B&Q and 3 per cent in Screwfix across the half-year.
There was increased demand for paint, with sales of coloured emulsion up 10 per cent at B&Q, alongside a further recovery in demand for big-ticket items.
This was driven by “demand for new kitchen ranges” and bathroom and storage products.
It represents a continued recovery in demand for larger products after it had cooled in the face of the surging cost of living.
Kingfisher also told investors that its UK stores were boosted by “transference from the closure of Homebase stores”.
Major B&Q rival Homebase shut more than 50 stores by March of this year after tumbling into administration late in 2024.
Thierry Garnier, chief executive officer of Kingfisher, said the company saw a “good transfer” of former Homebase customers to its B&Q stores and cheered the opening of eight former Homebase shops as new B&Q sites.
He said the stores, which included five in the UK and three in Ireland, have performed strongly after a quick turnaround to reopen during the peak trading season.
The company said it has also worked to offset significant cost pressures this year, with around £145 million of headwinds linked to higher National Insurance contributions, wage inflation, new UK packaging taxes and increased social taxes in France.
In the UK, earlier this month B&Q confirmed plans to cut around 650 jobs in a management shake-up amid efforts to streamline its operations but bosses stressed this was not linked to increases in National Insurance.
Mr Garnier added: “We delivered a strong first half with high quality underlying like-for-like sales growth of 1.9 per cent, driven by increased volumes and transactions.
“We were encouraged by underlying quarter-on-quarter growth in our core categories, and a third consecutive quarter of growth in big ticket sales.
“Our expectations for our markets for the year remain consistent with what we outlined in March, whilst mindful of mixed consumer sentiment and political uncertainty.
“Combined with our first-half performance, this gives us the confidence to upgrade our full-year profit and free cash flow guidance and to accelerate our share buyback programme.”
New Delhi: Finance Minister Nirmala Sitharaman on Monday held first pre-budget consultations with leading economists ahead of the upcoming Union Budget 2026-27.
The meeting was attended by Chief Economic Adviser (CEA) V. Anantha Nageswaran, besides other economists and senior officers from the Department of Economic Affairs (DEA).
“Union Minister for Finance and Corporate Affairs @nsitharaman chairs the first Pre-Budget Consultation with leading economists in connection with the upcoming Union Budget 2026-27, in New Delhi, today,” said an X post from Ministry of Finance.
“The meeting was also attended by Secretary, Department of Economic Affairs (DEA) @FinMinIndia; and Chief Economic Adviser, Government of India, besides senior officers from the DEA,” the ministry added.
As part of the ongoing pre-budget consultations, the government has been holding a series of meetings with industry representatives to gather inputs for the upcoming Union Budget.
The discussions are centred on enhancing the ease of doing business and extending tax benefits to the last mile.
Late last month, senior officials from the PHD Chamber of Commerce and Industry (PHDCCI) on Wednesday met Revenue Secretary Arvind Srivastava to present the industry’s recommendations on direct and indirect tax policies.
PHDCCI CEO and Secretary General, Dr Ranjit Mehta, said the discussions focused on both taxation and business facilitation. “We also discussed ease of doing business, which is the government’s focus,” he noted, adding that the Chamber had shared specific suggestions to ease liquidity challenges faced by micro, small, and medium enterprises (MSMEs).
Meanwhile, the Confederation of Indian Industry (CII) has called for comprehensive tax reforms in the Union Budget 2026-27, including expedition of dispute resolution, simplification of TDS regime and digitised customs systems.
The apex industry body emphasised the need to move towards a “compliance system rooted in trust, simplicity, and technology,” and accountable for administrative delays.
CII Director-General Chandrajit Banerjee said that India’s tax system needs to shift from being dispute-driven to dispute-preventive. “The tax system must ensure that taxation not only raises revenue efficiently but also acts as a catalyst for investment, innovation and competitiveness. The Budget can be a pivot for a truly modern, transparent and globally benchmarked tax regime,” Banerjee said.
The government is expected to continue engaging with various industry bodies in the coming weeks before finalising its proposals for the Union Budget.
Business
FM Nirmala Sitharaman Chairs First Pre-Budget Talks With Economists For Union Budget 2026-27
Last Updated:
The meeting sees the participation of several eminent economists who shared their views and suggestions on the state of the economy and policy priorities for the next fiscal year.
Pre-Budget consultations are a crucial part of the budget-making process, allowing the government to take on board diverse perspectives from stakeholders across sectors before finalising the Union Budget.
Finance Minister Nirmala Sitharaman on Monday chaired the first pre-budget consultation with leading economists in connection with the upcoming Union Budget 2026-27, in New Delhi. The Budget 2026-27, which will be the ninth consecutive Budget to be presented by Sitharaman, will be tabled in Parliament on February 1. However, the official announcement is yet to be made.
The meeting saw the participation of several eminent economists who shared their views and suggestions on the state of the economy and policy priorities for the next fiscal year. The meeting was also attended by the Secretary, Department of Economic Affairs (DEA), the Chief Economic Adviser to the Government of India, and other senior officials from the Ministry of Finance.
Union Minister for Finance & Corporate Affairs Smt. @nsitharaman chairs the first Pre-Budget Consultation with leading economists in connection with the upcoming Union Budget 2026-27, in New Delhi, today.The meeting was also attended by Secretary, Department of Economic… pic.twitter.com/I9yn5FxpOD
— Ministry of Finance (@FinMinIndia) November 10, 2025
“Union Minister for Finance & Corporate Affairs Nirmala Sitharaman chairs the first Pre-Budget Consultation with leading economists in connection with the upcoming Union Budget 2026-27, in New Delhi, today. The meeting was also attended by secretary, Department of Economic Affairs (DEA), finance ministry; and chief economic adviser, Government of India, besides senior officers from the DEA,” the finance ministry said in a post on X on Monday, November 10, 2025.
Pre-Budget consultations are a crucial part of the budget-making process, allowing the government to take on board diverse perspectives from stakeholders across sectors before finalising the Union Budget.
The Indian economy gained momentum in the second quarter (July-September) of the current financial year Despite United States imposing higher tariffs on India in August, according to the finance ministry’s latest monthly economic review.
The report highlighted that against a global backdrop characterised by economic and trade policy uncertainty, India’s economy continued to strengthen in Q2 FY26.
It stated “this is particularly significant, as the United States imposed higher tariffs on India in August”.
This acceleration, despite external headwinds, highlights the resilience of the domestic economy and the effectiveness of ongoing structural reforms.
According to the monthly economic review, various supply-side high-frequency indicators (HFIs) displayed healthy trends, while demand conditions improved on the back of GST reforms and positive festive season sentiments, which spurred consumption.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
November 10, 2025, 11:38 IST
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Business
Stock market today: Nifty50 opens above 25,550; BSE Sensex up over 200 points – The Times of India
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Monday. While Nifty50 was above 25,550, BSE Sensex was up over 200 points. At 9:16 AM, Nifty50 was trading at 25,567.90, up 76 points or 0.30%. BSE Sensex was at 83,426.94, up 211 points or 0.25%.For the week ahead, market experts expect range-bound movement influenced by mixed global factors, while potential positive corporate earnings and developments in India-US trade discussions could provide support.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The dominant trend in global trade this year has been the AI trade, which has pushed up AI stock valuations to elevated valuations, though not yet in bubble territory. The strong earnings growth in the US has been a fundamental support to this AI trade. Countries regarded as AI winners like China, South Korea and Taiwan also have benefited from this AI rally. Now, there are signs of this AI trade losing steam as evidenced by the 3 % decline in Nasdaq last week. This is a healthy trend. If this trend persists without high volatility, that would make the US market healthy, preempting a bubble formation and its eventual burst. Investors have to watch how this trend plays out.”“This emerging trend, it persists, would be particularly favourable for the Indian market which didn’t participate in the AI trade. FIIs, particularly the hedge funds, who have been consistently selling in India and taking money out for playing the AI trade, are now likely to pause and slowly reverse the AI trade in favour for non-AI trade in countries like India. Fortunately, the earnings growth currently happening in India and expected to gather momentum, going forward, can provide the fundamental support for a rally. Watch out for the leading names in banking and finance, telecom, capital goods, defence and automobiles.”Friday saw Nasdaq close slightly lower, marking its sharpest weekly fall since early April, as investors expressed concerns about sustainability of recent gains in artificial intelligence shares. US Treasury yields showed marginal decline.Asian trading witnessed a surge in US stock-index futures, as expectations grew for a resolution to the prolonged US government shutdown.Foreign portfolio investors conducted net sales of shares valued at Rs 4,581 crore on Thursday. In contrast, domestic institutional investors were net purchasers, investing Rs 6,675 crore.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
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