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The Markets
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The Markets
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Proactive UK has moved.
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Retail

Screwfix and Poland drive Kingfisher sales

DIY retailer's UK trade counter and Polish businesses were the first quarter top performers

Kingfisher PLC's (LON:KGF) Screwfix trade counter and Polish businesses led the way as the DIY retailer racked up a 3.6% rise in first quarter sales.

Screwfix increased like-for-like (LFL) sales in the UK and Ireland by 16.2% to £301mln at constant currencies and by 23.5% on a Total reported basis.

Kingfisher said Screwfix's multi-channel retailing approach, new and extended ranges and 10 new outlets drove the performance.

B&Q in the UK & Ireland boosted LFL sales by 3.6% and its Polish business lifted LFLs by 10.8%.

But the group's French businesses did less well, with Castorama LFLs down 0.9% and Brico Dépôt up 1.5%. Sales at Its Russian and Spanish businesses also fell.

Total group sales rose by 3.6% to £2.7bn.

Kingfisher said the planned closure of about 15% of surplus space at B&Q was on track, with 10 further B&Q stores closed, taking the total-to-date to 40 of 65 planned.

Chief executive Véronique Laury said: "We have made a solid start to the year, trading in line with expectations."

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