Screwfix sales boost Kingfisher profits

Kingfisher, owner of B&Q and Screwfix, has reported growth in sales in the third quarter thanks to strong demand in the UK and Ireland and Poland.

Group like-for-like sales rose by 1.8% with UK and Ireland figures boosted by a 12.7% rise at Screwfix and one of 3.5% at B&Q, despite store closures.

Like-for-like sales in Poland rose by 6.7% thanks to a better product range.

CEO Veronique Laury said the company was making good progress with its five-year transformation plan.

She added: "Q3 trading conditions have followed a similar trend to the first half. We have delivered another solid sales performance overall, trading in line with expectations.

"We are gearing up for next year when the level of transformation activity will significantly increase. We remain confident in our ability to deliver our ambitious plan, based on always putting customer needs first, supported by the expertise and energy of our colleagues."

Like-for-like sales in France were down by 3.6% in the quarter, partly reflecting less promotional activity.

The figures continued a good 2016 for Kingfisher, which, in September, reported a rise in revenue of 6.8% to £5.7bn, with pre-tax profit up 13.5% to £436m, in the first half of the year.