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The Markets
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Retail

Kingfisher sales growth slows as France applies the brake

The DIY chain reported underlying sales up 1.8% to just under £3bn in the three ended October, which compared with a 3% increase the quarter before.

B&Q owner Kingfisher PLC (LON:KGF) reported a slowdown in sales growth in the third-quarter with its operation in France applying the brakes.

The DIY chain reported underlying sales up 1.8% to just under £3bn in the three ended October, which compared with a 3% increase the quarter before.

Over the Channel, where it owns Castorama and Brico Depot, revenues fell 3.6%.

Here in the UK, underlying growth was 5.8%.

Noteworthy was the performance of Screwfix, supplier of screws and fastenings to the trade, where sales were up 12.7% to £343mln.

The group, which is in the first year of its ONE Kingfisher overhaul programme, said the pace of change would increase significantly in 2017.

“We remain confident in our ability to deliver our ambitious plan, based on always putting customer needs first, supported by the expertise and energy of our colleagues," chief executive Véronique Laury.

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