Will People Get Bored of DIY?

The Week: Home improvement boom during lockdown has boosted Kingfisher, says Morningstar columnist Rodney Hobson, but will it last?

Rodney Hobson 25 September, 2020 | 9:02AM

The Week

Let’s seize on whatever positives we can in this time of crisis – and you don’t get much more positive at the moment than at do-it-yourself chain Kingfisher (KGF). Despite the closure of stores during lockdown, revenue was down a mere 1.3% in the six months to the end of July as B&Q and Screwfix deftly switched to online sales.

Pre-tax profits leapt by 62.4% as stay-at-home workers turned to improving their homes and gardens rather than twiddling their thumbs. Kingfisher can afford to pay back £23 million in furlough payments received from the Government.

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About Author

Rodney Hobson

Rodney Hobson  is a columnist for Morningstar.co.uk and author of several investing books, including The Dividend Investor and How to Build a Share Portfolio.

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