KFG saw 3% growth in revenues to £3.03bn
Companies: Kingfisher Plc
Kingfisher (LSE:KFG) has released a Q2 trading update this morning, reporting 3% growth in LFL sales at £3.03bn and saying it has seen no clear evidence of an impact on demand from Brexit. The group's strong performance in the UK and Poland, up 7%, offset negative growth in its struggling French operation, which saw a 3% fall in LFL sales.
The groups' UK brands, B&Q and Screwfix, reported sales of £1.36bn (+7.2% Yoy), benefiting from strong performance at Screwfix. Poland reported sales of £320m (+7% Yoy), benefiting from a currently supportive market and new ranges, whilst French operations, Castorama and Brico Dépôt, reported sales of £1.13bn (-3.2%).
Véronique Laury, Kingfisher Chief Executive Officer, said:
"We have delivered another solid sales performance in Q2 driven by the UK and Poland. In the UK, the EU referendum result has created uncertainty for the economic outlook, although there has been no clear evidence of an impact on demand so far on our businesses. In France, widespread industrial action and exceptionally wet weather created a more challenging environment, after a more encouraging Q1. We remain cautious on the short-term outlook."
