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Kingfisher shares fall after profits disappoint

Shares in Kingfisher, the owner of DIY chain B&Q, have fallen sharply after its profits failed to meet analyst expectations.

The retailer reported a 20.3% rise in retail profit for the three months to 3 May to £142m - analysts had forecast profits of £145m for the quarter.

Sales rose 6% increase to £2.7 billion.

Chief executive Sir Ian Cheshire explained that it received a "big bounce" in year-on-year sales due to the improvement in weather from spring 2013.

He added that they are also seeing "a more confident customer" and an uptake in activity.

First broadcast on BBC Radio 4's Today programme on Thursday 29 May.

  • 29 May 2014