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UK DIY News

The week ahead… Kingfisher, Topps Tiles and Wolseley

THE impact of the poor spring weather on B&Q-owner Kingfisher and bikes and car parts retailer Halfords will be revealed this week when the pair publish updates.

Given April’s importance in the DIY calendar, the recent dismal weather is likely to have left a dent in the sales and profits performance at B&Q.

Retail analyst Philip Dorgan, of stockbroker Panmure Gordon, expects Kingfisher to report an 11 per cent drop in B&Q’s like-for-like sales for the first quarter as it also comes up against tough comparisons with strong trading a year earlier. Including trade arm Screwfix, the group is tipped to see profits off by a similar proportion at some £76 million.

A strong season for US housebuilders is likely to boost trade at plumbing and heating merchant Wolseley in its quarterly update on Tuesday. The group reported a 28 per cent jump in half-year profits but this was driven by the US, which contributes 42 per cent of revenues, and where surveys have shown improved confidence among housebuilders, as well as lower unemployment and better home sales.

The UK is set to contribute even less to its overall performance after it sold Bathstore, the firms’s only consumer-facing brand in the UK. Paul Checketts, analyst at Barclays Equity Research, said: “US homebuilders had a strong first quarter with encouraging trends on orders and pricing, which bodes well for Wolseley in the coming months.”

Tuesday: Topps Tiles and Wolseley

Thursday: Kingfisher

Source : Dominic Jeff – The Scotsman
www.scotsman.com/business/market-watch-dismal-weather-likely-to-dampen-b-q-and-halfords-1-2320241

27 May 2012
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