Kingfisher Q2 Growth Unhurt By Brexit Worries

Kingfisher has reported a solid set of results for its fiscal second quarter, and said it had not seen any impact from the Brexit vote.

For the three months ending 31 July, sales were up 8.4% to £3bn, with like-for-like sales growing by 3% (although this was down from the 3.6% in the first quarter). LFL sales were up 7.2% the UK and Ireland, with the B&Q banner recording a 5.6% increase and Screwfix seeing a jump of 13.3%.

In France, underlying sales were down 3.2%, hurt by the poor weather and workers’ strikes.  However, results were better in Poland, with LFL sales up 7.3%.

CEO Véronique Laury admitted that there was uncertainty following the referendum, but added: “There has been no clear evidence of an impact on demand so far on our businesses.”