HAMPSHIRE-BASED B&Q has reported a 21.8 per cent drop in retail profit to £162.9 million for the year to February 3.
The fall in profit reflected lower sales and a flat gross margin rate compared with last year.
Sales were down 1.7 per cent to £3.9 billion over the 12 months despite having picked up by 1.3 per cent in the second half.
Group profits at B&Q's owner Kingfisher fell for the second successive year.
Pre-tax profit came in at £396.6 million for the year to February 3, down 11 per cent on last year but ahead of analysts' forecasts of £389 million.
Kingfisher's total sales of £8.67 billion were 7.4 per cent up on the previous year.
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