UK DIY News

Kingfisher Q2 Trading Update

Earlier today Kingfisher announced their Q2 pre-close update for the 10 weeks to 11 July 2015.

Overall, Kingfisher reports total sales up 4.8% (+3.5% LFL) in constant currencies.

Sales* In constant currencies	10 weeks to 11 July 2015		23 weeks to 11 July 2015
	% Total Change	% LFL* Change	% Total Change	% LFL Change
France*	+2.6%	+1.3%	+1.4%	(0.1)%
- Castorama	+1.6%	+1.7%	+0.4%	+0.5%
- Brico Dépôt	+4.1%	+0.7%	+2.7%	(0.7)%
UK & Ireland*	+6.7%	+5.5%	+4.7%	+3.3%
- B&Q UK & Ireland	+2.6%	+3.4%	+0.3%	+0.9%
- Screwfix	+28.3%	+16.7%	+27.5%	+16.0%
Other International*	+4.3%	+3.3%	+6.0%	+3.7%
- Poland	+3.8%	+5.3%	+1.7%	+2.7%
- Russia	+10.5%	+5.1%	+21.6%	+15.3%
Total Group	+4.8%	+3.5%	+3.7%	+2.1%

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. I am also very pleased to report that the pilot of our unified IT system, which is a key enabler of our ‘ONE’ Kingfisher plan, started on time in Ireland. We look forward to updating on further progress against our first ‘sharp’ decisions in September. And we have to date returned £138m to shareholders via a share buy back since the year end.”

Trading review for the 10 weeks (in constant currencies)

FRANCE

CastoramaLFL sales of seasonal products up 8.3% with LFL sales of non-seasonal products broadly flat. According to Banque de France* data, sales for the home improvement market were up 1.5% across May-June
Brico Dépôt continues to be impacted by a soft house building market¹

UK & IRELAND

B&QLFL sales of outdoor and seasonal products up 1.3%. Showroom LFL sales up 2.6% with LFL sales of indoor products, excluding showroom, up 5.1%
Screwfixon track to have opened 11 new outlets during Q2, taking the total to 412

OTHER INTERNATIONAL

PolandLFL sales of seasonal products up 16.5% with LFL sales of non-seasonal products up 2.9%
Sales inRussiareflecting more normalised consumer spending, after a strong Q1 (+31.3% LFL), in an uncertain market

Download the full release here.

Download the highlights summary here.

23 July 2015