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* Kingfisher pretax profit down 11.4 pct to 715 mln stg
* Forex movements cost it 39 mln stg, weather 25 mln stg
* Wolseley H1 profit 199 mln stg, down 20 pct
* Bellway H1 profit 59.9 mln stg, up 47.5 pct
By James Davey
LONDON, March 26 (Reuters) - Britain's Kingfisher and Wolseley reported sharply lower profits ascash-strapped consumers cut back on home improvements in theeconomic downturn.
Kingfisher, Europe's largest DIY retailer, and Wolseley, theplumbing supplies group, are battling a prolonged squeeze indisposable incomes in Europe that is particularly affectingsellers of "big ticket" items such as kitchens and bathrooms.
British home improvement firms are also being hit by acontinuing low level of housing transactions, since moving houseis often associated with spending on home improvements.
Poor weather has also hit demand. In 2012 Britain had itswettest summer in 100 years, while 2013 has got off to a coldstart with average March temperatures on course to be the lowestfor 40 years, according to the Meteorological Office.
Kingfisher, which runs market leader B&Q in Britain andtrades as Castorama and Brico Depot in France, on Tuesdayreported an 11.4 percent fall in underlying pretax profit to 715million pounds ($1.09 billion) in the year to Feb. 2.
That was in line with analysts' consensus forecast but downfrom 807 million pounds in 2011-12.
Group sales fell 2.4 percent to 10.57 billion pounds, withweak consumer confidence resulting in like-for-like salesdeclines in its three key markets of Britain, France and Poland.
Adverse foreign exchange movements when translating overseasprofits in euro and Polish zloty into sterling knocked 39million pounds off profit, while rain in Britain cost it 25million pounds as fewer customers visited its stores.
Chief Executive Ian Cheshire told reporters improvement inUK employment data and measures to stimulate the housing marketin finance minister George Osborne's budget speech last weekwere encouraging signs, though any recovery looked fragile.
"We're planning on markets not really giving us any help andus having to go out and work harder. Equally it would be badluck if we got another 100 year summer," he said.
It was too early to say what impact a cold February andMarch would have on first-quarter sales, said Cheshire, notingApril was the key month for horticultural trade.
PROFITABILITY DRIVE
Kingfisher, the world's No. 3 home improvements retailerbehind U.S. groups Lowe's and Home Depot <HD.N, ispartially offsetting weak demand with a drive to improveprofitability by buying more goods centrally from cheapermanufacturing centres such as China.
Its shares, down 9 percent over the past year, were up 1.2percent at 286.8 pence at 1312 GMT, supported by a net cashposition of 38 million pounds and a 7 percent dividend rise.
At Wolseley, exceptionals mostly consisting ofwrite-downs, disposals and staff redundancy costs amounted to 87million pounds, which helped push pretax profit down 20 percentfor the six months to end-January to 199 million pounds.
Of the charges, 63 million pounds was related to Francewhere the firm is looking to dispose of and close up to 40percent of its building materials business Reseau Pro. The grouphas cut 990 jobs in Europe since August as homeowners andbusinesses in the region put off repairs and maintenance toproperties.
Group revenue fell 8.1 percent to 6.28 billion pounds.
Wolseley shares were down 3 percent at 3,115 pence.
In sharp contrast to Kingfisher and Wolseley, Britishhousebuilder Bellway beat forecasts with a 47.5 percentrise in pre-tax profit in the six months to end-January to 59.9million pounds.
UK housebuilders have defied the economic downturn bysnapping up development land cheaply during the recession andfocusing on the south where house prices have stayed strong.
Bellway's revenue rose 9.6 percent to 502.5 million pounds,helped by higher selling prices.
Its shares rose 2 percent to 1,217 pence.
