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Kingfisher boosted by favourable weather conditions

Kingfisher saw sales rise 3.3% in the first quarter of 2011 to £2.7bn.

The owner of B&Q and Screwfix reported retail profits of £174m over the period, a rise of 20.9%.

The chain said it was boosted by favourable weather across all its markets in the 13 weeks to the end of April.

It added that B&Q saw indoor project sales were down around 10% as customers preferred to concentrate on outdoor projects in the hot weather.

Britain's construction industry also picked up slightly last month.

The May Purchasing Managers' Index - compiled by Markit, and the Chartered Institute for Purchasing and Supply - shows a better than expected reading of 54, where anything above 50 is growth and below is contraction.

Last month was 53.3, and the forecast this time had been for 53.6.

Figures yesterday showed the slowest growth in the manufacturing sector for 20 months and the first drop in new orders for two years.

Source : Sky News

02 June 2011
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