Kingfisher raises FY guidance, Rentokil Initial agrees to sell SOLitude and Vertex units

Retailer Kingfisher lifted its annual outlook after a jump in half-year profits, citing strong performance at its Screwfix business. The group, which owns B&Q, Brico Depot and Castorama, now expects adjusted pre-tax profits of £595m to £635m, up from £565m to £625m, alongside free cash flow of £480m to £520m. For the six months ended 31 July, adjusted earnings rose 9.9% to £404m, helped by gross margin expansion. In deal news, Rentokil Initial agreed to sell SOLitude and its Vertex Aquatic Solutions unit to Bain Capital for $230m, expecting about $180m net cash proceeds after tax. Oxford Biomedica reiterated guidance supported by first-half revenue growth to £80.2m.