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Screwfix helps Kingfisher to first-quarter profit rise
May 28, 2015 / 6:27 AM / 2 years ago

Screwfix helps Kingfisher to first-quarter profit rise

LONDON, May 28 (Reuters) - Kingfisher, Europe’s biggest home improvement retailer, posted a 1.4 percent rise in first quarter retail profit, helped by a strong performance at Screwfix which lifted sales at its British arm.

Kingfisher, which trades as B&Q and Screwfix in Britain and Castorama and Brico Depot in France, said on Thursday retail profit for the 13 weeks to May 2 rose to 150 million pounds ($230 million) at constant currency, ahead of a company compiled consensus forecast of 146 million pounds.

Underlying group sales grew 0.8 percent versus strong comparative figures a year ago, with sales in France down 1.2 percent but up 1.6 percent in the UK and Ireland, where the company also made gross margin gains after less promotions.

$1 = 0.6512 pounds Reporting by Neil Maidment; editing by Kate Holton

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