Shares in the group, which runs more than 1,800 stores globally, moved higher on Tuesday morning.

B&Q owner Kingfisher has increased its profit target for the year despite pointing to weaker market conditions in the UK.

Shares in the group, which runs more than 1,800 stores globally, moved higher on Tuesday morning as it reported stronger demand for big-ticket spending.

Kingfisher told shareholders that it is on track to deliver a pre-tax profit of between £540 million and £570 million for the year.

It had previously guided towards a range of between £480 million and £520 million.

The group said the upgrade came despite “softening market conditions” in the UK and Poland over the third quarter.

Group like-for-like revenues increased by 0.9% to £3.25 billion for the three months to Oct

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