(MENAFN) Kingfisher, the British multinational retailing company headquartered in London which is the largest home improvement retailer in Europe, has missed estimations with a 6.6 percent plunge in July-Sep's profit.
The retailer made USD336.6 million over the cited period, less than the forecasted USD353.2 million, which was mainly attributed to the slumping market in France let alone the adverse foreign exchange movements.
As far as France is concerned, home to the company's largest division, sales at stores open more than a year increased a slight 0.1 percent, as opposed to analysts' average projection of a 0.5 percent growth.
"Trading conditions have followed a similar trend to the first half of the year, reflecting the more encouraging macroeconomic backdrop in the UK offset by a softer market in France," said the group's Chief Executive.
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