Kingfisher makes advances in the domestic market

Following a difficult second quarter, Kingfisher’s sales in the first six months of its fiscal year (ended 2 August 2014) were up by 0.9 per cent to GBP 5.768 bn. In France, the British group’s biggest market, sales declined by 4.4 per cent to GBP 2.205 bn. At constant exchange rates this was 0.4 per cent more than in the same period last year, while like-for-like sales were 0.8 per cent down.
In its home market in Britain and in Ireland, sales increased by 6.5 per cent (like-for-like sales up 4.4 per cent). Both the main distribution channel B&Q (up 3.9 per cent) and above all Screwfix (up 23.3 per cent) saw increased sales.
In the other countries in which the group operates, a bottom line sales increase of 0.3 per cent was achieved (like-for-like sales: 1.6 per cent) to GBP 1.144 bn: Poland was down 0.6 per cent (like-for-like up 3.1 per cent) to GBP 554 mio, Russia down 5.9 per cent (like-for-like up 11.6 per cent) to GBP 212 mio, and Spain up 11.1 per cent (like-for-like down 6.0 per cent) to GBP 170 mio.
In China sales fell by 16.1 per cent (like-for-like by 7.3 per cent) to GBP 163 mio.
Kingfisher’s new markets, Portugal and Romania, accounted for sales of GBP three mio and 42 mio respectively.