Half Year Results (Part 2 of 2)

Kingfisher plc

2023/24 INTERIM CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

CONSOLIDATED INCOME STATEMENT

 

		Half year ended 31 July 2023				Half year ended 31 July 2022
£ millions	Notes	Before adjusting items	Adjusting items (note 5)	Total		Before adjusting items	Adjusting items (note 5)	Total
Sales	4	6,880	-	6,880		6,809	-	6,809
Cost of sales		(4,385)	-	(4,385)		(4,313)	-	(4,313)
Gross profit		2,495	-	2,495		2,496	-	2,496
Selling and distribution expenses		(1,605)	(21)	(1,626)		(1,549)	1	(1,548)
Administrative expenses		(511)	-	(511)		(434)	-	(434)
Other income		12	2	14		11	1	12
Share of post-tax results of joint ventures and associates		(5)	-	(5)		5	-	5
Operating profit	4	386	(19)	367		529	2	531
Finance costs		(64)	-	(64)		(65)	-	(65)
Finance income		14	-	14		8	-	8
Net finance costs	6	(50)	-	(50)		(57)	-	(57)
Profit before taxation		336	(19)	317		472	2	474
Income tax expense	7	(87)	7	(80)		(104)	3	(101)
Profit for the period		249	(12)	237		368	5	373
Earnings per share	8
Basic				12.4p				18.6p
Diluted				12.2p				18.3p
Adjusted basic				13.0p				18.3p
Adjusted diluted				12.8p				18.0p

The proposed interim ordinary dividend for the period ended 31 July 2023 is 3.80p per share (2022/23: 3.80p per share).

Kingfisher plc

2023/24 INTERIM CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

CONSOLIDATED INCOME STATEMENT

 

 

		Year ended 31 January 2023
£ millions	Notes	Before adjusting items	Adjusting items (note 5)	Total
Sales	4	13,059	-	13,059
Cost of sales		(8,264)	-	(8,264)
Gross profit		4,795	-	4,795
Selling and distribution expenses		(3,087)	(136)	(3,223)
Administrative expenses		(868)	(12)	(880)
Other income		25	1	26
Share of post-tax results of joint ventures and associates		5	-	5
Operating profit	4	870	(147)	723
Finance costs		(129)	-	(129)
Finance income		17	-	17
Net finance costs	6	(112)	-	(112)
Profit before taxation		758	(147)	611
Income tax expense	7	(169)	29	(140)
Profit for the year		589	(118)	471
Earnings per share	8
Basic				23.8p
Diluted				23.5p
Adjusted basic				29.7p
Adjusted diluted				29.4p

 

 

Kingfisher plc

2023/24 INTERIM CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

 

£ millions	Notes	Half year ended 31 July 2023	Half year ended 31 July 2022	Year ended 31 January 2023
Profit for the period		237	373	471
Remeasurements of post-employment benefits	11	(9)	(14)	(278)
Inventory cash flow hedges - fair value (losses)/gains		(40)	113	58
Tax on items that will not be reclassified		14	(24)	85
Total items that will not be reclassified subsequently to profit or loss		(35)	75	(135)
Currency translation differences
Group		(10)	(22)	129
Joint ventures and associates		(4)	(1)	11
Transferred to income statement		(2)	-	-
Inventory cash flow hedges - losses/(gains) transferred to income statement		9	-	(5)
Total items that may be reclassified subsequently to profit or loss		(7)	(23)	135
Other comprehensive (expense)/income for the period		(42)	52	-
Total comprehensive income for the period		195	425	471

Kingfisher plc

2023/24 INTERIM CONDENSED FINANCIAL STATEMENTS (UNAUDITED)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

 

							Half year ended 31 July 2023
£ millions	Share capital (note 13)		Share premium		Own shares held	Retained earnings	Capital redemption reserve	Other reserves (note 14)	Total equity
At 1 February 2023		305		2,228	(22)	3,796	71	285	6,663
Profit for the period		-		-	-	237	-	-	237
Other comprehensive expense for the period		-		-	-	(4)	-	(38)	(42)
Total comprehensive income/(expense) for the period		-		-	-	233	-	(38)	195
Inventory cash flow hedges - losses transferred to inventories		-		-	-	-	-	12	12
Share-based compensation		-		-	-	12	-	-	12
New shares issued under share schemes		-		-	-	2	-	-	2
Own shares issued under share schemes		-		-	9	(9)	-	-	-
Purchase of own shares for cancellation		(6)		-	-	(103)	6	-	(103)
Purchase of own shares for ESOP trust		-		-	(24)	-	-	-	(24)
Dividends		-		-	-	(165)	-	-	(165)
Tax on equity items		-		-	-	-	-	(4)	(4)
At 31 July 2023		299		2,228	(37)	3,766	77	255	6,588
			Half year ended 31 July 2022
£ millions	Share capital (note 13)		Share premium		Own shares held	Retained earnings	Capital redemption reserve	Other reserves (note 14)	Total equity
At 1 February 2022		325		2,228	(46)	4,025	50	196	6,778
Profit for the period		-		-	-	373	-	-	373
Other comprehensive (expense)/income for the period		-		-	-	(10)	-	62	52
Total comprehensive income for the period		-		-	-	363	-	62	425
Inventory cash flow hedges - gains transferred to inventories		-		-	-	-	-	(61)	(61)
Share-based compensation		-		-	-	11	-	-	11
New shares issued under share schemes		-		-	-	2	-	-	2
Own shares issued under share schemes		-		-	17	(17)	-	-	-
Purchase of own shares for cancellation		(13)		-	-	(225)	13	-	(225)
Dividends		-		-	-	(172)	-	-	(172)
Tax on equity items		-		-	-	(1)	-	14	13
At 31 July 2022		312		2,228	(29)	3,986	63	211	6,771