Kingfisher cheers DIY trend

23rd Jul 2009 07:36

Kingfisher reported a 0.7% rise in like for like sales at B&Q in the UK, thanks to a growing trend for home and garden DIY.Total group sales rose 1% in constant currencies in the 10 weeks to 11 July, but fell 2% on a like-for-like basis. In the UK, B&Q total sales grew 1.5% as sales of core DIY and decorative products remained relatively resilient, with sales of kitchens, bathrooms and bedrooms performing particularly well thanks to new ranges as well as recent competitor withdrawal.Screwfix sales declined by 6.0% in a much more challenging trade market, it added. In France, Castorama sales grew 1.1% and fell 0.8% on a like-for-like basis, supported by its modernisation programme. Brico Dépôt sales were down 0.9% (-5.6% LFL), impacted by continued weakening trade demand from a slow down in housing starts and big project planning consents. Gross margins in France remained broadly flat. Sales in other international markets grew 4.0% (-2.7% LFL). "We have continued to perform well in a tough environment, profitably growing market share, strengthening our leadership position in Europe and progressing our seven point Delivering Value plan," said chief executive Ian Cheshire."B&Q in the UK was again stronger than anticipated as it continued to capitalise on the growing trend for home and garden DIY, low cost room makeovers and competitor withdrawal in the bigger ticket categories.""Right across the group our now well established focus on driving profitable sales, whilst vigorously controlling costs and cash, is serving us well as we trade through these difficult times," he added.