Kingfisher Share News (KGF)

Kingfisher, the DIY retail group behind B&Q and Screwfix, said it is on track to hit expectations for the first half after a pick-up in activity in the second quarter.The company had seen a sharp 4.2% fall in like-for-like (LFL) sales in the first quarter due to the "unfavourable cold weather" throughout the spring which affected footfall.However, Chief Executive Ian Cheshire said: "Following a tough Q1, I am pleased to report that we have been able to capitalise on the better weather conditions in Q2, particularly in the UK, which has helped us to deliver growth."LFL sales rose by 2.5% in the 10 weeks to July 13th, with total sales up 5.2%. This trimmed the LFL sales decline to just 1.0% in the financial year to date (23 weeks to July 13th).UK & Ireland sales were up 3.6% in the second quarter, 2.5% higher on a LFL basis. B&Q saw turnover rise 1.7% (+1.9% LFL), helped by sales growth of outdoor and seasonal products of nearly 20% - this represented nearly 40% of total sales, the company said. Meanwhile, Screwfix saw strong growth of 17.8% (+6.6% LFL).Sales in France, which accounted for around 40% of group turnover last year, were up 3.4% (+1.1% LFL) as the region benefitting from some reversal of the first-quarter negative calendar impact of around 1.5%.Meanwhile, Other International sales grew strongly, rising 11.2% (+5.3% LFL) on the back of decent LFL growth in Poland, Russia and China.Cheshire said that underlying consumer confidence remains "weak" in Kingfisher's major markets, so it is continuing to focus hard on self-help margin and cost initiatives.