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B&Q UK sales down, Kingfisher up

Published: 22 March 2012
B&Q sales in the UK and Ireland were down 0.9% (-1.8% LFL) at £3.8bn in 2011/12, Kingfisher announced on March 22. Retail profit rose 10.9% at £238m, and TradePoint grew to 800,000 registered customers.
Screwfix continued to grow, with sales up 8.2% (1.9% LFL) at £518m, and retail profit up 16.2% at £33m. Total UK and Ireland sales rose 0.1% (-1.4% LFL) at £4.3bn, with retail profit up 11.6% at £271m.

Worldwide, Kingfisher sales rose 3.6% (1.3% LFL) to £10.831m, with retail profit up 15.7% to £882m and pre-tax profit up 20.4% to £807m. France did well, with 3.7% LFL sales growth, and retail profit up 20% at £423m, and there was profit growth in Poland, Turkey, Germany and Russia as well. In China, losses were reduced from £63m to £3m.

During the four years of the 'Delivering Value' programme, now completed, the company's stock market valuation more than doubled, from £3.4bn to £7.2bn. Kingfisher has now revealed the eight key points of its new 'Creating the Leader' programme: making it easier for customers to improve their homes; giving customers more ways to shop; building innovative common brands; driving efficiency and effectiveness everywhere; growing the Kingfisher presence in existing markets; expanding in new and developing markets; developing leaders and connecting people; and becoming 'net positive' on sustainability.

"The Creating the Leader programme will see us emerge as a world-class retailer, helping customers have better, more sustainable homes," said group chief executive Ian Cheshire.

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