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Screwfix Like-For-Like Sales Rise by 5.1%

Screwfix 5 725 x 500.jpg

In this morning's Kingfisher update, Screwfix once again proved its worth by countering sales decline at B&Q. 

Screwfix grew total sales by 9.9% (+5.1% LFL) to £882 million, driven by specialist trade desks exclusive to plumbers and electricians, strong digital growth of 18% (now 32% of total sales); and the continued roll out of new outlets.

SIxteen new outlets were opened in H1 19/20, taking the total to 643. The overall target is to have around 800 outlets in the UK and the business remains on track to open stores in the Republic of Ireland in H2 19/20 to complement its existing online presence.

In Screwfix Germany, all 19 stores were closed during the period and the business made a £4 million retail loss (2018/19: £7 million reported retail loss). Screwfix maintains an online presence in Germany through its European website.

View the full financial results, here

Read the original release, here.

Source : Insight DIY Team

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18 September 2019

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