Kingfisher's Screwfix expansion to provide UK jobs boost

Kingfisher, which issued a well-received set of results on Thursday morning, is to create more than 1,200 new jobs in the UK as it expands its B&Q and Screwfix operations.The expansion plans will bring Kingfisher's total investment in the UK this year to £130m, the company said, with a combined total of over 80 new Screwfix and B&Q stores being opened during 2011.The group said 230 of the new jobs will be created at the 29 stores it acquired from Focus, the rival DIY chain that went belly-up earlier this year.However, the bulk of the new jobs will be created at Screwfix, the brand that caters more to the professional building trade. The company intends to have 40 new Screwfix stores opened by January 2012, in addition to the 13 already opened this year."We are backing Britain, investing to grow our B&Q and Screwfix businesses in the UK, creating jobs and supporting local communities. We have the balance sheet strength and financial flexibility to do this. Although the economic outlook is uncertain, this investment demonstrates our confidence in the UK's longer-term growth prospects," said Kingfisher's Chief Executive, Ian Cheshire.The share price of Kingfisher rose 12.2p to 251.8p in early trading following the announcement of the results and the Screwfix expansion. --jh