Kingfisher Plc shares saw a significant drop, falling by as much as 12% to 258.9 pence in London, after the company announced a narrowed full-year profit outlook.
The home improvement retailer attributed this adjustment to ongoing budget-related uncertainties affecting consumer sentiment in both the UK and France. The company now expects an adjusted pretax profit for the full year in the range of £510 million to £540 million, which is lower than its previous guidance of £510 million to £550 million.
This news follows a 21% increase in Kingfisher's stock earlier in the year, highlighting the impact of economic conditions on market performance.