Kingfisher reporting Q3 sales of £2.7 billion, +2.6%
Kingfisher plc announced its Third Quarter trading update on Tuesday 24 November 2015 at 7.00am (GMT), reporting Q3 sales of £2.7 billion, +2.6% LFL and retail profit of £223 million, up 0.4% in constant currencies. Softer market in France offsetting results in the UK.
Highlights:
Reported retail profit of £223m impacted by £17m adverse foreign exchange movements on the translation of non-sterling profits and around £5m of additional store development activity in France and Poland compared to last year.
Kingfisher reports Q3 sales of £2.7 billion, +2.6% LFL and retail profit of £223 million, up 0.4% in constant currencies. Softer market in France offsetting results in the UK
Q3 financial summary and highlights for the 13 weeks ended 31 October 2015
|
Sales1 |
% Total Change |
% Total Change |
% LFL* Change |
Retail Profit* |
% Total Change |
% Total Change | |
|---|---|---|---|---|---|---|---|
|
|
2015/16 £m |
Reported |
Constant currency |
Constant currency |
2015/16 £m |
Reported |
Constant currency |
| France | 990 | (7.0)% | +1.5% | +0.1% | 109 | (15.7)% | (7.5)% |
| - Castorama | 539 | (7.9)% | +0.5% | (0.2)% | |||
| - Brico Dépôt | 451 | (5.9)% | +2.8% | +0.4% | |||
| UK & Ireland | 1,209 | +5.4% | +5.5% | +4.6% | 80 | +14.2% | +14.1% |
| - B&Q UK & Ireland | 931 | +1.0% | +1.2% | +2.4% | |||
| - Screwfix | 278 | +23.4% | +23.4% | +13.3% | |||
| Other International | 452 | (11.1)% | +5.4% | +2.8% | 34 | (13.7)% | (0.6)% |
| - Poland | 267 | (5.7)% | +3.4% | +3.5% | 34 | (9.3)% | (0.1)% |
| - Russia | 85 | (29.4)% | +13.7% | +8.0% | 1 | n/a | n/a |
| - Spain | 67 | (10.7)% | (2.8)% | (4.0)% | - | n/a | n/a |
| - Turkey JV | n/a | n/a | n/a | n/a | 3 | (2.3)% | +16.1% |
| - New Country Development* |
33 | n/a | n/a | n/a | (4) | n/a | n/a |
| Total1 | 2,651 | (2.5)% | +4.0% | +2.6% | 223 | (6.6)% | +0.4% |
To view or download the full release please go to: http://www.kingfisher.com/Q32015
“Véronique Laury, Chief Executive Officer, said: Q3 trading conditions have followed a similar trend to the first half of the year, reflecting the more encouraging macroeconomic backdrop in the UK offset by a softer market in France. In the meantime, we continue to make good progress with our ‘ONE’ Kingfisher plan. The unified IT system, a key enabler of this journey, continues to progress well. In addition we have secured a further five agreements on the B&Q stores already planned for closure, taking the total to 31. I am very encouraged by development work on the first wave of the unified ‘core essential’ ranges, which will land in stores from next year. We now look forward to updating you on the detail of our long term strategy in early 2016.”