‘Brexit has had no impact’, says Kingfisher

Kingfisher has reported a ‘solid Q2 performance’ with group sales up eight per cent to £3 billion, driven by strong growth at Screwfix in the UK.

Screwfix sales increased 24.5% in the second quarter of 2016, to £311 million. It also saw like-for-like sales growth of 13.3%, which it said was driven by its omni-channel offering, new and extended ranges and new outlets.

Despite store closures, B&Q also saw sales increase 0.3% in the UK and Ireland, reaching a total of £1bn. Like-for-like sales grew by 5.6%, which benefited from sales transference associated with store closures.

Véronique Laury (pictured), Kingfisher chief executive, said: “We have delivered another solid sales performance in Q2 driven by the UK and Poland. In the UK, the EU referendum result has created uncertainty for the economic outlook, although there has been no clear evidence of an impact on demand so far on our businesses. In France, widespread industrial action and exceptionally wet weather created a more challenging environment, after a more encouraging Q1. We remain cautious on the short-term outlook

“In the meantime, we continue to focus on our ONE Kingfisher plan, based on always putting customer needs first. We look forward to updating you on our early progress at our half year results next month.”

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