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Business News

Kingfisher flounders in snow

The group behind the DIY chain B&Q will cap a year to forget when it posts a fall in profit this week.

But Kingfisher, which has more than 1,000 stores in eight countries, could have a more upbeat message on the prospects of it returning cash to shareholders.

The group is expected to report an 11 per cent decline in profit to £714m over the year to February, according to Deutsche Bank. Kingfisher's bottom line was hit by the wettest summer in more than 100 years, which hit sales of barbecues and garden furniture at B&Q in the UK. Investors will scrutinise comments by Ian Cheshire, right, the chief executive, on a possible share buyback or special dividend over the next two years.