B&Q owner Kingfisher posted a four per cent rise in annual profits amid signs that it is benefiting from the upturn in the UK housing market. Profits of £744 million for the year to the end of January reflected a strong showing from its Screwfix trade supply division as UK and Ireland sales lifted by 2.7 per cent to £4.3 billion over the period.

B&Q's UK sales were flat at £3.7 billion in a tougher market, with the performance held back by a challenging first quarter. Chief executive Sir Ian Cheshire said the firm was in good shape, despite difficult trading conditions in France, where it trades as Castorama and Brico Depot.