Kingfisher Pretax Profit Drops 13.3%

Kingfisher PLC KGFHY posted a 13.3% fall in its pretax profit for the full year. Kingfisher's pretax profit for the year dropped to 691 million pounds, from GBP797 million, in the year-ago period. Its adjusted pretax profit declined to GBP717 million from GBP809 million. Kingfisher's revenue fell to GBP10.57 billion from GBP10.83 billion, while operating profit dropped to GBP695 million from GBP807 million. Its adjusted operating profit dropped to GBP721 million from 819 million, while net profit declined to GBP564 million from GBP640 million. Kingfisher shares closed at $8.60 yesterday.