Kingfisher: another strong performance by Screwfix, weaker store sales

Main distribution line B&Q on a downward trend, a difficult situation in France, Poland doing well, but double-digit growth once again at Screwfix: that was the picture for the British Kingfisher Group in the third quarter (ended 31 October 2017). Total group sales came to GBP 3.043 bn, an increase of 3.0 per cent on the same period in the previous year, but equivalent to a decline of 0.5 per cent taking retail area and currency effects into account.
Looking at the figures from individual countries and regions, the sales growth of 2.5 per cent (1.5 per cent adjusted for retail area and currency effects) to GBP 1.274 bn in Great Britain and Ireland is attributable to 16.6 per cent growth at Screwfix (adjusted figure 10.2 per cent) to GBP 399 mio. In contrast, sales in B&Q stores were down by 2.9 per cent (adjusted 1.9 per cent) on the same period in 2016.
In France, Kingfisher recorded sales of GBP 1.153 bn. Although this is nominally a 0.4 per cent increase on the comparable period in the previous year, the figure is down by 4.1 per cent in terms of like-for-like sales. Adjusted for currency effects, sales at Castorama were down by 2.6 per cent (like-for-like sales -3.2 per cent), while Brico Dépôt suffered a decline of 4.6 per cent (like-for-like: 5.2 per cent).
Kingfisher reported an increase of 6.1 per cent after adjustment for currency effects in Poland (like-for-like sales up 6.0 per cent) to GBP 379 mio. Sales in Russian Castorama stores fell by 1.4 per cent to GBP 109 mio after currency effects were taken into account and by 3.7 per cent in like-for-like terms. In Spain, Brico Dépôt's sales came to GBP 79 mio, a decrease of 5.5 per cent in currency-adjusted sales and of 4.0 per cent in like-for-like sales compared with the third quarter of 2016.