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Kingfisher Plc quits Russia, Spain and Portugal as French sales tumble

Wednesday, November 21, 2018, 7:41 PM

Kingfisher, Europe's second-largest home improvement retailer, reported weak-quarterly sales in France and said it would pull out of Russia, Spain and Portugal, sending its shares lower and raising questions over its plan to increase profit. The group, which across Europe trails France's Groupe Adeo, is in the third year of five-year programme to raise annual profit by 500 million pounds ($640 million) from 2021.