The retailer said that total like-for-like sales for the first quarter of the financial year are expected to drop by 6 per cent, while profits are expected to plunge 15 per cent.
The expectations are set against flat sales for the quarter ending April 30, compared with the same period last year. Sales at B&Q and Castorama are expected to decline in the period, offset by growth in Brico Depot.
The retailer blamed weak trading since its preliminary results on March 17. In particular, UK trading was marred by weak consumer confidence and poor spring weather and an early Easter.
Kingfisher chief executive Gerry Murphy (pictured) said: 'The weakening trends experienced by UK retailers in the last quarter of 2004 seem to have continued into 2005. While it is too early to judge the full year, it is clear that the demand is weak in the UK and any sales growth will be hard won in very competitive markets.'
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