Kingfisher UK sales driven up by Screwfix and inflation

The DIY giant recorded a 3% rise in group sales to £3bn in the quarter to October 31, up 0.3% in constancy currency and down 0.5% on a like-for-like basis.

The performance of the retail group’s UK division was mixed.

B&Q sales dropped 2.8% to £875m – 1.9% on a like-for-like basis. However, Screwfix sales jumped 16.6% to £399m – 10.2% like-for-like.

The group attributed its overall UK sales, which totalled £1.3bn and rose 2.5% on a total basis and 1.5% on a like-for-like basis, to the ongoing strength of the Screwfix proposition and “modest price inflation”.

France and Poland

Kingfisher’s French division continued to drag down its overall sales.

Like-for-like sales at Castorama slumped 3.2% and Brico Depot like-for-likes plunged 5.2%.

By contrast, revenue at the group’s Polish division spiked 11.9% with like-for-likes up 6%.

Chief executive Veronique Laury said: “We have seen strong growth at Screwfix and Poland offset by continued weak sales in France, alongside some business disruption from our One Kingfisher plan, principally reflecting product availability and clearance.

“We continue to act on the causes of this disruption, which we are confident will ease.”

Looking ahead, the DIY boss added: “We remain on track to deliver our full-year strategic milestones, for the second year in a row. With plans in place to support our overall performance, we remain comfortable with full-year profit expectations.

“We remain confident in our ability to deliver our long-term plan and in the financial and customer benefits it will generate.”