Kingfisher's sales growth held back by soft French market

B&Q notched up respectable sales growth of 3.5% as Kingfisher's total revenue grew 1.8% to £2.96 billion
B&Q notched up respectable sales growth of 3.5% as Kingfisher's total revenue grew 1.8% to £2.96 billion

23 November, 2016

Kingfisher, owner of B&Q and Screwfix, has reported growth in sales in the third quarter thanks to strong demand in the United Kingdom and Ireland and Poland. In France, sales fell 3.6% on the same basis while sales in Poland rose 6.7%.

Like-for-like sales increased 1.8% year-on-year to £2.96bn ($3.7bn) in the three months to 31 October, following a 3% growth in the previous quarter.

Europe's largest DIY retail group highlighted the performance of Screwfix, where like-for-like sales grew by 12.7 per cent to £343 million.

Kingfisher highlighted another strong period for Screwfix, as sales generated a 23.1% uptick to £343m, whilst also indicating a strong performance from its global markets with Poland driving sales up by 26.7% to £338m.

Here in the United Kingdom, underlying growth was 5.8%. The 52 week high shares of Kingfisher PLC have reached is 390.6 whilst the 52 week low for the company's shares is 300.1.

France's sales climbed 16 percent in the quarter to 1.15 billion pounds. It has so far returned 182 million pounds.

Galaxy S7 Android Nougat update released (sort of)
Eom's letter further provided a status update regarding the identification of the root cause of the Note 7's battery problem. The "Touch" features enable the latest iPhone iterations to detect varying levels of pressure applied to their displays.

Reliance Jio 4G Working On Rs 1000 VoLTE Feature Phone?
The 4G telco is working with domestic handset maker Lava International and Chinese OEMs to manufacture these feature phones. And it's the right time for Reliance Jio to start the home delivery of SIM card that they promised a few weeks back.

EA to Release "One of Our Bigger Games" for the Nintendo Switch
Amiibo is a line of smart figurines inspired by famous Nintendo characters like Mario and Link from "The Legend of Zelda". Gamers must use a Nintendo 3DS or Wii U console to read a chip in the base of each figurine.

She added: "Q3 trading conditions have followed a similar trend to the first half".

"We remain confident in our ability to deliver our ambitious plan, based on always putting customer needs first, supported by the expertise and energy of our colleagues", chief executive Véronique Laury.

Kingfisher, which owns retail stores B&Q and Screwfix, reported a solid Q3 trading update in which it stated that performances in the United Kingdom and Poland helped lift like-for-like sales.

It also said today that its five year transformation plan, launched in January, was on track.

In London, Kingfisher shares were trading at 358.50 pence, down 3.03 percent.

More news

  • The Walking Dead Season 7, episode 5: Most shocking moments

    Loner Jesus , who until Maggie and Sasha (Soneque Martin-Green) showed up at Hilltop was a bit disengaged from the colony. But how safe will they be at the Hilltop? Maggie and Sasha are among some of the best characters on The Walking Dead .

    Sanders to Trump: Rescind Bannon appointment, keep promises

    Elizabeth Warren, the candidate many Democrats would have preferred in 2016, is a conventionally liberal Harvard professor. Now, I believe we should expand Social Security.

    The US Will Take In Some Refugees Stuck In Australia's Island Camps

    US Department of Homeland Security officials are heading to Australia and expected to begin vetting applicants this week. The agreement will prioritise resettling women, children and families on Nauru .
  • Ondo election will hold Saturday - INEC

    Ondo election will hold Saturday - INEC

    Segun Agbaje, the Resident Electoral Commissioner in the state, said a total of 1,659,186 are registered voters in the state.

    Korean prosecutors say Park conspired with her friend

    Prosecutors also indicted a second former presidential aide, Jeong Ho-seong, with leaking classified information to Choi. Park has pledged to cooperate in the investigation but pushed back on the prosecutors' plan to question her last week.

    Millions celebrate winning Chicago Cubs with parade, rally

    No one will ever forget what the Cubs were able to do and Ross became a cult hero for the city during his final World Series. Zobrist said the players were confident until the Cubs fell back three games to one in the World Series to Cleveland.
  • Malaysian reform group raided ahead of rally, 2 held

    Malaysian reform group raided ahead of rally, 2 held

    The investigations into 1MDB fund are centered on allegations of a global embezzlement and money-laundering scheme. Bersih said the number was much higher.
    Attacks against American Muslims rose a year ago

    Attacks against American Muslims rose a year ago

    The following reports were collected through news reports , social media, and direct submissions via SPLC's #ReportHate page . The number of hate crimes based on race, religion and sexual orientation all increased in Colorado, according to the report.
    Kong Revealed in New Trailer For Skull Island

    Kong Revealed in New Trailer For Skull Island

    Vogt-Roberts is directing the film from a screenplay by Max Borenstein, John Gatins, Dan Gilroy and Derek Connolly. Kong: Skull Island is produced by Legendary's Thomas Tull and Jon Jashni with Mary Parent.
  • Iowa State clobbers Texas Tech 66-10

    Iowa State clobbers Texas Tech 66-10

    Coach Steve Prohm's first priority, though, is getting his team prepared to best defend The Citadel's unique style of play. Up next - Texas Tech (4-7) closes the season against Baylor with a 5 p.m. game on Friday at AT&T Cowboys Stadium.

    Yaya Toure 'not surprised' by recall to Manchester City side

    He was in training every day with us and I'm so happy for that, so glad, not (just) for today's performance. I didn't think it would slip away after they equalised, but it can happen.
    Chinese smartphone manufacturers continue to close gap on rivals

    Chinese smartphone manufacturers continue to close gap on rivals

    Market-leading Samsung shipped 71.7 million smartphones in Q3, a reduction of 14.2 percent on the corresponding period past year . Samsung and Apple are leaking market share in the smartphone space while Chinese rivals flourish, data from Gartner has found.