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Screwfix H1 LFL sales boost Kingfisher UK & Ireland

Screwfix - requires credit - shutterstock_317213033 725 x 500

Kingfisher has reported on half year trading, covering the six months ended July 31st 2016.

Screwfix grew total sales by 24.0% (+14.7% LFL) to £612 million, driven by strong growth from the specialist trade desks exclusive to plumbers and electricians, strong digital growth (e.g. mobile +117%; click & collect +59%); and the continued roll out of new outlets.

During the period, 20 net new outlets were opened, taking the total to 477.

The full results publication, which is available here, also said:

"Furthermore, until we have unified our customer offer, we will have limited expansion, the focus of which will be Screwfix UK and Europe in the medium-term."

Learn more about B&Q's performance here.

Véronique Laury, Chief Executive Officer, said:

“It has been a productive first half. We have delivered a good 'business as usual' result
with both sales and profit growth. Performance has been driven by Poland and the UK,
especially Screwfix, and a stable profit performance in France. This has been achieved
alongside managing the start of our ambitious transformation plan, based on creating a
unified company where customer needs come first.

“In the UK, the EU referendum has created uncertainty for the economic outlook, even
though there has been no clear evidence of an impact on demand so far on our
businesses. In France we remain cautious on the short term outlook.

“Looking longer term, we are starting to build solid foundations to enable us to deliver our
five year transformation, which is our key growth driver. We are making good progress on
our strategic milestones for this first year and we are on track. The level of transformation
activity will increase significantly, however given the expertise and energy of our
colleagues we continue to feel confident about the challenges ahead.”

Image: James W Copeland / 

Source : Kingfisher 

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19 September 2016

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