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PRIVACY
Retail & Consumer

B&Q owner Kingfisher sees strong º£½ÇÊÓÆµ sales but French troubles continue

Kingfishjsoner, which operates 1,900 stores across seven European countries, said total sales rose 1.8 per cent to £3.31bn in the three months ended April 30.

A B&Q Extra store(Image: Darren Quinton/Birmingham Live)

B&Q's parent company, Kingfisher, has reported an encouraging beginning to the year with strong sales in the º£½ÇÊÓÆµ, despite experiencing a decline in France and Poland.

For the quarter ending April 30, the home improvement retailer, which maintains a network of 1,900 stores across seven European countries, announced a 1.8 per cent increase in total sales to £3.31 billion, as reported by .

However, in response to the figures, shares fell by two per cent during early trading.

The rise was spearheaded by robust performances from the º£½ÇÊÓÆµ brands B&Q and Screwfix, with sales surging by 7.4 per cent and 4.1 per cent, respectively.

A surge in purchases of seasonal items like BBQs for the upcoming summer and DIY tools supported the group's positive performance during the initial months of the year.

The º£½ÇÊÓÆµ contributed to just over half of Kingfisher's total sales, while France accounted for approximately 10 per cent, and a similar share came from Poland.

Kingfisher experienced a 3.2 per cent fall in like-for-like sales in Poland compared to the previous year, citing "geopolitical factors" as the reason.

Meanwhile, sales in France have seen some improvement over the last year, though the market remains unstable. Like-for-like sales there decreased by 3.2 per cent to £976 million, with both Castorama and Brico Dépôt witnessing roughly three per cent drops.