kingfisher plc reported tuesday a fall in pretax profit for fiscal 2023 on the back of higher costs but said its performance was in line with the boards views and that it sees fiscal 2024 profit being in line with market expectations the homeimprovement retailer posted a pretax profit for the year ended jan 31 of 611 million pounds 7501 million compared with gbp101 billion a year earlier analysts expected gbp7408 million in profit according to forecasts taken from factset and based on eight analysts estimates revenue fell to gbp1306 billion from gbp1318 billion and compared with expectations of gbp1298 billion according to estimates taken from factset and based on 16 analysts forecasts sales on a likeforlike basis fell 21 compared with a companyprovided consensus estimate for a fall of 2 selling and distribution expenses rose to gbp322 billion from gbp300 billion the company said the board has declared a total dividend of 1240 pence a share flat on a year earlier the ftse 100listed company said it intends to launch a further share buyback program in fiscal 2024 following the completion of the current buyback program kingfisher said it expects to deliver fiscal 2024 adjusted pretax profitwhich strips out exceptional and other oneoff itemsin line with the companyprovided market expectations of gbp633 million and freecashflow greater than gbp500 million and said it remains is wellpositioned to navigate through the new fiscal year amid resilient business trends across the group we are strengthening our proposition for trade customers building on the success of bqs tradepoint and the accelerated expansion of screwfix whilst its still early days for screwfixs ambitions in france we are happy with the results of the first few months of operations and planning for up to 25 more store openings this year we are also building on our leadership position in poland and the attractive potential of this market by opening seven more castorama stores in 2023 it added the company also set its mediumterm priorities with adjusted pretax profit expected to grow faster than sales on the back of scale benefits higher margin operating cost leverage and costreduction opportunities it will also seek to accelerate its strategy on both organic and inorganic growth opportunities while surplus capital will be returned via share buybacks or special dividends kingfisher added shares at 0810 gmt were up 68 pence or 25 at 2801 pence