Published on 28 November 2015

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.”

Source: http://www.kingfisher.com/index.asp?pageid=374#ref_q32015

About us

Garden Europe is one of the leading European Garden business Web site. Our mission is to be one of the primary sources of information about garden events, products, best practices, social media, trade shows and the latest garden trends.

Garden Europe is a platform to inspire Garden members providing information, ideas and solutions for profitable business.

© Copyright bohero bvba.  Privacy Policy  |  Terms of use  |  Disclaimer  |  Cookies  |  Website by Webatvantage

This website uses cookies! For more information regarding our cookies, please read our cookie policy