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LONDON, Aug 18 (Reuters) - Kingfisher, Europe'slargest home improvement retailer, said it was cautious on theshort-term outlook after the UK vote to leave the European Unionbut said it had seen no impact yet on its business, with salesup in the last three months.
Véronique Laury, chief executive of the firm which trades asB&Q and Screwfix in Britain and Castorama and Brico Depot inFrance, said the Brexit vote had created uncertainty for theeconomic outlook.
However, she noted: "There has been no clear evidence of animpact on demand so far on our businesses."
Industry data published last week showed British retailspending bounced back in July as sales promotions and goodweather outweighed concerns that the Brexit vote would deal animmediate hit to the economy.
Kingfisher said group sales at stores open over a year rose3 percent in the three months to July 31, its fiscal secondquarter, having been up 3.6 percent in the first quarter.
Total sales rose 8.4 percent to 3 billion pounds ($3.92billion).
Like-for-like sales in Britain and Ireland were up 7.2percent, with B&Q up 5.6 percent and Screwfix up 13.3 percent.
In France underlying sales fell 3.2 percent, hurt bywidespread industrial action and exceptionally wet weather.
Market conditions in Poland remained supportive withlike-for-like sales up 7.3 percent.
In January Laury announced a strategy to boost Kingfisher'sannual profit by 500 million pounds from 2021 that will cost 800million pounds over five years to deliver. The plan involvesunifying the product offer across the business, improving itsecommerce capabilities and driving efficiencies.
The firm also plans to return 600 million pounds toshareholders over the next three years through share buybacks.It has so far returned 150 million pounds.
For its 2016-17 year analysts are on average forecasting anunderlying pretax profit of 692 million pounds versus 686million pounds in 2015-16.
Shares in Kingfisher, up 8.6 percent so far this year, weredown 1.3 percent at 353.8 pence by 0710 GMT, valuing thebusiness at 8 billion pounds.($1 = 0.7657 pounds) (Reporting by James Davey; Editing by Kate Holton, GregMahlich)
