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Kingfisher profit misses consensus by 15.8% in fiscal H1

Kingfisher PLC said its normalized net income for the fiscal first half ended Aug. 2 amounted to 10 Great British pence per share, compared with the S&P Capital IQ consensus estimate of 11 pence per share.

In the prior-year period, the per-share result was a profit of 10 pence.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £229.1 million, compared with £228.8 million in the prior-year period.

Total revenue totaled £5.77 billion, compared with £5.72 billion in the year-earlier period, and total operating expenses totaled £5.40 billion, compared with £5.35 billion in the year-earlier period.

Reported net income declined 36.8% from the prior-year period to £277.9 million, or 12 pence per share, from £439.6 million, or 19 pence per share.