Kingfisher takes advantage of the favourable situation in Great Britain

A weak market environment in France together with the weak Euro have had a direct effect on Kingfisher's latest quarterly figures. The British Group achieved a turnover over GBP 1.209 bn in the quarter between August and October in Great Britain and Ireland, a growth of 5.4 per cent, like-for-like 4.6 per cent. However, the increase was not primarily from the DIY sales division B&Q, which recorded a growth of 1.0 per cent, but from the mail order and small size specialist Screwfix, which increased its turnover by 23.4 per cent after opening 13 new stores.
In contrast, the turnover in France fell by 7.0 per cent to GBP 990 mio. Taking into account constant currency, that represents a 1.5 per cent increase and like-for-like 0.1 per cent.
Due to the currency related effects, the remaining business abroad also remained in the red. Poland: GBP 267 mio turnover, -5.7 per cent, +3.4 per cent constant currency, +3.5 per cent like-for-like constant currency. Russia: GBP 85 mio, -29.4 per cent, -13.7 per cent constant currency, -8.0 per cent like-for-like constant currency.
In total, Kingfisher turned over GBP 2.651 bn in the third quarter. That was 2.5 per cent less than in the same period last year. Taking constant currency into account,  that would have been 4.0 per cent more, with like-for-like and constant currency there is a 2.6 per cent increase.
The Group will release its long-term strategy at the beginning of 2016, as announced by the CEO Véronique Laury. In addition, she expressed her optimism about the work on the "unified core essential ranges". The first wave will reach the stores next year.