Kingfisher grows by 1.2 per cent

Kingfisher has published its latest half-year figures, according to which the company was able to increase its sales by 1.2 per cent to GBP 6.080 bn in the last six months until 31 July 2018.
Digital sales now account for 6 per cent of the Group, up from 5 per cent last year. Revenues from the click & collect service at B&Q, grew by 56 per cent versus the first half of last year, mainly driven by the roll out of the one hour click & collect service which went live in Q3 2017/18.
Kingfisher UK & Ireland sales increased 1.3 per cent (-0.5 per cent LFL) to GBP 2 635 mio within the context of a continuing weak consumer backdrop. B&Q total sales declined by 2.3 per cent to GPB 1 833 mio. Screwfix total sales grew by 10.4 per cent (+4.5 per cent LFL) to GBP 802 mio.
Kingfisher France sales decreased by 2.1 per cent (-2.4 per cent LFL) to GBP 2,267 mio reflecting continuing weaker performance of Castorama partly offset by an improving sales performance at Brico Dépôt.
Sales in Poland were up 2.8 per cent (+1.5  per cent LFL) to GBP 726 mio. In Spain and Portugal sales decreased by 2.7 per cent (-2.7 per cent LFL) to GBP 184 mio. In Russia sales declined by 4.6 per cent (-1.6 per cent LFL) to GBP 167 mio. In Romania sales increased by 82.3 per cent (+3.5 per cent LFL) to GBP 95 mio driven by the acquisition of Praktiker Romania and made a retail loss of GBP 9 mio (2017/18: GBP 1 mio reported retail loss) reflecting customer uncertainty following the change of ownership of Praktiker Romania. Screwfix Germany sales increased by 19.2 per cent (+19.6 per cent LFL) and made an GBP 8 mio retail loss (2017/18: GBP 9 mio reported retail loss).
Turkey, Kingfisher’s 50 per cent joint venture, Koçtaş, contributed retail profit of GBP 1 mio (2017/18: GBP 3 mio reported retail profit).
On 31 July Kingfisher was operating 5 671 stores. This is an increase of 51 stores. 50 of these were Screwfix which were opened in the UK and Ireland.

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