B&Q and Screwfix owner Kingfisher has reported ‘another solid’ performance for its second quarter covering the three months to 31 July 2016.
The DIY giant posted total UK & Ireland sales of £1.357m, up by 5%, with total like-for-like sales up by 7.2%. Both B&Q and Screwfix reported an uptick in revenues at 0.3% - £1.046m and 24.5% - £311m, whilst like-for-like sales grew by 5.6% and 13.3% respectively.
On a total group basis, Kingfisher saw sales rise by 8.4% to £3.026m, with like-for-like sales up by 3%. The Group outlined that its Polish market contributed significantly, with sales up by 10.5% - its highest in the international sector, whilst its French market suffered a decline of 1.4%.
During the period, Kingfisher also completed the disposal of the remaining 30% economic interest in B&Q China following regulatory approval. Net cash proceeds of £63m were received.
Véronique Laury, Kingfisher chief executive officer, said: “We have delivered another solid sales performance in Q2 driven by the UK and Poland. In the UK, the EU referendum result has created uncertainty for the economic outlook, although there has been no clear evidence of an impact on demand so far on our businesses.”