LONDON--European home improvement retailer Kingfisher PLC (KGF.LN) on Wednesday reported a sharp rise in fiscal 2017 pretax profit and said Chairman Daniel Bernard will retire at the company's annual general meeting in June. Profit before taxes and exceptional items was GBP742 million compared with GBP678 million a year earlier. The company said it will appoint Andy Cosslett to the board as a non-executive director and chairman-designate on April 1, formally taking over as chairman at the annual meeting. Kingfisher, which owns the B&Q and Screwfix store chains in the U.K., made a pretax profit of 759 million pounds ($942.38 million) for the year ended Jan. 31, up from GBP512 million a year earlier, as revenue increased to GBP11.23 billion from GBP10.44 billion. She said the company's five-year transformation plan, which is now one year old, will help improve business.
according to Kier also said Chairman Phil White will retire on Nov. 17 and that Philip Cox, the chairman of Drax Group PLC (DRX.LN), will replace him. LONDON--Kier Group PLC (KIE.LN) reported Thursday a massive rise in first-half pretax profit thanks to selling a part of Mouchel, a business it bought recently. After selling Mouchel Consulting, part of Mouchel, the company earned a one-off profit of GBP39 million. The property, residential, construction and services group made a pretax profit of 34.9 million pounds ($43.3 million) in the six months ended Dec. 31, much more than the GBP4.3 million made in the previous comparable period. Kier will receive a cash payment of up to GBP64 million for the assets.
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collected by :Jack Luxor
according to Kier also said Chairman Phil White will retire on Nov. 17 and that Philip Cox, the chairman of Drax Group PLC (DRX.LN), will replace him. LONDON--Kier Group PLC (KIE.LN) reported Thursday a massive rise in first-half pretax profit thanks to selling a part of Mouchel, a business it bought recently. After selling Mouchel Consulting, part of Mouchel, the company earned a one-off profit of GBP39 million. The property, residential, construction and services group made a pretax profit of 34.9 million pounds ($43.3 million) in the six months ended Dec. 31, much more than the GBP4.3 million made in the previous comparable period. Kier will receive a cash payment of up to GBP64 million for the assets.
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Kier reveals new chairman as half-year profit rises
Kier has announced its chairman Phil White is to step down as the firm reported a rise in half-year profit. In Kier's construction business, operating profit jumped 19 per cent to £20.8m as its operating margin edged up to 2 per cent. Kier this morning posted a 4 per cent year-on-year rise in underlying operating profit to £56.5m in the six months to 31 December 2016. Kier's order book for its construction business is £3.3bn and around £1.1bn of new work was secured in the six-month period. More from: Kier to simplify operations as £120m contract ended earlyThe Bedfordshire-based company said Mr White would leave after its AGM in November.read more visit us profit
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