Kingfisher sees sales strong in France but UK weak

16th Feb 2012 07:12

DIY retailer Kingfisher saw sales growth in all three of its geographic regions in the 13 weeks to January 28th, though, as expected, like-for-like (LFL) sales in the UK and Ireland were lower than the year before.Total sales at the company, which owns the B&Q brand, were up 2.2% year-on-year, or 4.0% in constant currency terms. LFL sales were up 0.9%, despite the UK & Ireland's figures being down 1.9% on the corresponding period of the prior year. In France total sales gained 5.7% to hit £938m with the LFL figure rising 4.2%.In the "Other International" division total sales grew 5.8% (a rise of £449m) with the LFL performance in positive territory by 0.1%.The group's Chief Executive, Ian Cheshire, said he believes full year adjusted profits will be in line with analysts expectations of £799m.The company has also announced a reorganisation of senior management, with the role of Chief Executive Officer for Kingfisher International made redundant, meaning Peter Hogsted will leave the business. Cheshire said he was "very sorry to see Peter go".Today's update saw Kingfisher shares fall 1.33% by 10am. Over the last 12 months the stock has gained 6.9%.BS