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Kingfisher sales in first half of year below previous year

B&Q's sales in Great Britain and Ireland decreased by 3.3 per cent in the first half of the fiscal year.

B&Q's sales in Great Britain and Ireland decreased by 3.3 per cent in the first half of the fiscal year.

Despite sales growth in the first quarter, the British DIY store group Kingfisher completed the first half of its financial year 2019/2020 (ending 31 July 2019) with a decline. Sales to the amount of GBP 5.997 bn (EUR 6.765 bn) lay at 0.9 per cent constant currency and 1.4 per cent absolute below the respective previous year's level. This was 1.8 less in terms of like-for-like sales net of currency effects.

All major sales channels made losses on their main markets. B&Q made GBP 1.773 bn (EUR 2.000 bn) in Great Britain and Ireland and thus 3.3 per cent less (like-for-like: -3.2 per cent). In France, Castorama made GBP 1.143 bn (EUR 1.289 bn) and lay at 4.3 per cent below the previous year (like-for-like: -4.3 per cent), Brico Dépôt with GBP 1.015 bn (EUR 1.145 bn) lay at 4.2 per cent (like-for-like: -4.6 per cent). The fact that eleven French stores will be closed in the upcoming 18 months had already been decided; nine of them are Castorama stores.

Screwfix grew strongly again, namely by 9.9 per cent to GBP 882 mio (EUR 995 mio, like-for-like 5.1 per cent). This sales channel now makes 32 per cent of its sales online (+18 per cent in the first half of the year). The digitally generated sales of the entire Kingfisher group also rose by 18 per cent and now make up 7 per cent of the overall sales.

The half year results from the remaining countries:
Poland: GBP 753 mio (EUR 849 mio), +5.2 per cent, LFL +3.3 per cent
Romania: GBP 96 mio (EUR 108 mio), +4.1 per cent, LFL +10.5 per cent
Spain and Portugal: GBP 176 mio (EUR 199 mio), -3.6 per cent, LFL -3.6 per cent
Russia: GBP 154 mio (EUR 174 mio), -6.9 per cent, LFL -6.9 per cent

|19 September 2019 | 11:05


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