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Kingfisher's UK sales return to growth

Wed, 24th Jul 2013 06:14

LONDON, July 24 (Reuters) - Kingfisher, Europe'sbiggest home improvements retailer, returned to underlying salesgrowth in its domestic market in its latest quarter, helped bybetter British weather.

The firm, which runs the B&Q and Screwfix chains in Britain,said on Wednesday sales at UK and Ireland stores open more thana year rose 2.5 percent in the 10 weeks to July 13, the bulk ofits 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 blamed on unseasonably cold weather.

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

Group like-for-like sales rose 2.5 percent.

The company said it was on track to deliver a first half inline with internal expectations, though it cautioned thatunderlying consumer confidence remained weak in its majormarkets.

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