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Kingfisher hits over 2-yr high after raising bottom end of profit forecast



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** European home improvement retailer Kingfisher's KGF.L shares up 6.5% at 309.30 pence; stock at highest level since February 2022

** Stock top gainer on London's main index .FTSE

** Raises the bottom end of its profit outlook for the full year, saying that while demand for 'big-ticket' categories has remained weak seasonal category sales trends have improved since early July

** Now expects an adjusted pretax profit for 2024/25 of 510 million pounds to 550 million pounds ($673.51 million-$726.33 million), having previously forecast 490 million to 550 million pounds

** Profit fell 0.5% to 334 million pounds in its first half to July 31, with like-for-like sales down 2.4%

** As of last close, stock up nearly 22% YTD


($1 = 0.7572 pounds)



Reporting by Radhika Anilkumar in Bengaluru

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