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Screwfix helps Kingfisher to first-quarter profit rise
May 28, 2015 / 6:33 AM / 3 years ago

Screwfix helps Kingfisher to first-quarter profit rise

LONDON (Reuters) - Kingfisher (KGF.L), 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 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.

    Reporting by Neil Maidment; editing by Kate Holton

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