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Pin to quick picksKingfisher Share News (KGF)

Share Price Information for Kingfisher (KGF)

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Share Price: 248.90
Bid: 248.70
Ask: 248.80
Change: -4.00 (-1.58%)
Spread: 0.10 (0.04%)
Open: 252.00
High: 252.40
Low: 247.70
Prev. Close: 252.90
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UPDATE 1-Kingfisher's UK sales return to growth

Wed, 24th Jul 2013 06:46

LONDON, July 24 (Reuters) - Kingfisher, Europe'sbiggest home improvements retailer, said it was on track todeliver a first half in line with internal expectations afterbetter weather helped it return to underlying sales growth inBritain.

The firm, which runs the B&Q and Screwfix chains in its homemarket, said on Wednesday sales at UK and Ireland stores openmore than a year rose 2.5 percent in the 10 weeks to July 13,the bulk of its fiscal second quarter.

That compares with analysts' consensus forecast of a rise of2.2 percent, according to a company poll, and a first-quarterfall of 4.7 percent that was blamed on unseasonably coldweather.

"We have been able to capitalise on the better weatherconditions in Q2, particularly in the UK, which has helped us todeliver growth," Chief Executive Ian Cheshire said.

Total group sales increased 5.2 percent and were up 2.5percent on a like-for-like basis.

B&Q saw sales of outdoor and seasonal products increasenearly 20 percent year on year, partly reflecting a July heatwave in Britain.

Like-for-like sales at Kingfisher's French business,comprising Castorama and Brico Depot, rose 1.1 percent, ahead ofan analysts' consensus forecast of a fall of 0.8 percent.

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