Kingfisher nails rise in second-quarter sales | IFA Magazine – Independent

The FTSE 100-listed DIY retailer, which owns brands including B&Q, Screwfix and Castorama, said that total sales in the 10 weeks to July 11 grew 4.8% on a constant currency basis, while like-for-like revenue rose 3.5%. Showroom sales rose 2.6% with sales of indoor products, excluding showroom, up 5.1%. For the full second quarter, which includes an additional three weeks, analysts are on average forecasting a rise of 4.1 per cent for the United Kingdom and Ireland and growth of 0.3 per cent in France.

Véronique Laury, Kingfisher’s Chief Executive Officer, said: “We have delivered a solid Q2 sales performance to date across all our major businesses, albeit against softer comparatives than in Q1”. United Kingdom and Ireland sales increased 6.7 percent in the 10-week period mainly with 28.3 percent jump in Screwfix sales.

“Kingfisher has built on the progress announced at the first quarter update, with a statement which implies rapid progress is being made”, said Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers.