B&Q's owner hit by wet weather and weak pound

B&Q and Screwfix owner Kingfisher said wet weather, weak consumer confidence and currency movements sent its annual profits and sales falling.

The group said the second-wettest year on record in the UK wiped £25 million from its profits and slashed customer numbers and sales of seasonal products.

A general view of the B&Q store in Hayes.
A general view of the B&Q store in Hayes. Credit: Steve Parsons/PA Wire

Kingfisher also took a £39 million hit on the impact of translating euro and Polish zloty sales into sterling, the retailer said.

Chief executive Ian Cheshire said the firm had "a tough year, impacted by unfavourable foreign exchange, record adverse weather in the UK and declining underlying markets in each of our three key territories".

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