15 August 2019
KINGFISHER PLC (THE 'COMPANY')
IFRS 16 'LEASES' UPDATE
Kingfisher today announces that following the adoption of IFRS 16 'Leases' it has published the impact on certain half year 2018/19 and full year 2018/19 income statement line items, including retail profit by geography. The restated numbers are unaudited. A link to this material on the Company's website is set out below. There will be no conference call for this update.
https://www.kingfisher.com/IFRS16LeasesUpdate
IFRS 16 'Leases' applies to the Company's consolidated financial statements from the financial year commencing 1 February 2019. Kingfisher is adopting the full retrospective transition option, and therefore restating its comparatives.
IFRS 16 'Leases' has no economic effect on Kingfisher's business or cash flow, however it does impact the way assets, liabilities and the income statement are presented. Further details will be published within the Company's half year 2019/20 results announcement, which will be released on 18 September 2019. This will include interim condensed consolidated financial statements prepared on an IFRS 16 'Leases' basis, with fully restated half year and full year comparatives.
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