Kingfisher basks as good weather boosts sales

The B&Q owner has enjoyed a successful few months despite a slow start to the year

by Gabriella Griffith
Last Updated: 11 Sep 2013
Kingfisher, owner of DIY retail giant B&Q, has enjoyed a bumper second quarter thanks to the heat wave we've all been enjoying. The DIY group, which also owns ScrewFix and French chain Brico Depot, has recorded total sales growth of 5.2%, seeing at 3.6% increase in the UK and Ireland.

B&Q total sales were up 1.7% with sales of outdoor and seasonal products leaping up by 20% (almost 40% of total sales). God bless the sunshine.

'Following a tough Q1, I am pleased to report that we have been able to capitalise on the better weather conditions in Q2, particularly in the UK, which has helped us to deliver growth,' said Ian Cheshire, Kingfisher Group chief executive.

The results means the DIY giant is on track to meet first half expectations. But the Kingfisher boss expressed he wouldn't be getting too complacent as the market is still on shaky ground.

'However, underlying consumer confidence remains weak in our major markets, so we continue to focus hard on our self-help margin and cost initiatives.'

Finance Retail

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