Based on the strong performance to date and the outlook for the rest of the year, the Kingfisher PLC Board has declared an interim dividend of 3.80 pence per share, up 38% on the H1 20/21 interim dividend of 2.75 pence per share.
The interim dividend will be paid on 12 November 2021 to shareholders on the register at close of business on 8 October 2021. A dividend reinvestment plan (DRIP) is available to shareholders who would prefer to invest their dividends in the shares of the Company. The shares will go ex-dividend on 7 October 2021. For those shareholders electing to participate in the DRIP, the last date for receipt of elections is 22 October 2021.
Other financial highlights:
Sales up 22.2% in constant currency, driven by strong demand for home improvement across retail and trade channels
LFL sales up 22.8% and corresponding 2-year LFL up 21.3%
- Strong performances in the UK & Ireland, France, Iberia and Romania; Poland impacted by COVID-related temporary store closures in Q1 21/22
- Transaction volume and average basket value both up on 1-year and 2-year basis
- LFL sales down 0.8% in Q2 21/22 and corresponding 2-year LFL up 20.0%
E-commerce sales up 21% (2-year growth up 216%) driven by continued strong demand
- E-commerce sales 19% of Group sales (H1 20/21 and H1 19/20: 19% and 7%, respectively)
Retail profit up 45.1% in constant currency, driven by strong UK & Ireland profit growth and France profit growth of over 100%
Statutory pre-tax profit up 70.6%, reflecting higher operating profit, and lower net finance costs and adjusting items before tax
Adjusted pre-tax profit up 61.6%, reflecting higher retail profit and lower net finance costs
Free cash flow of £723 million, down 30.6% (H1 20/21: £1,042 million; H1 19/20: £204 million), largely reflecting reversal of working capital inflow in prior year related to inventory
Net debt to last twelve months' EBITDA of 0.5x (0.9x as of 31 January 2021)