LONDON (Alliance News) - Kingfisher PLC on Tuesday reported growth in sales in the third quarter of its financial year, as its reported figures were boosted by the depreciation of sterling against the euro, and it said it is on track with its five-year transformation plan.
The DIY retailer, which operates B&Q and Screwfix in the UK and Castorama and Brico Depot in Europe, said total group sales rose by 12% year-on-year in the quarter to the end of October, with 2.8% growth in the UK & Ireland, 16% growth in France and 25% growth in its Other International segment, which includes Poland, Russia and Spain.
On a like-for-like basis, which is at constant exchange rates, total group sales rose by 1.8%, with 5.8% growth in the UK & Ireland, 4.7% growth in Other International, but a 3.6% decline in France.
"We continue to make good progress on our strategic milestones in the first year of our five year ONE Kingfisher transformation, and remain on track. In addition, we are gearing up for next year when the level of transformation activity will significantly increase. We remain confident in our ability to deliver our ambitious plan, based on always putting customer needs first, supported by the expertise and energy of our colleagues," Chief Executive Veronique Laury said in a statement.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Kingfisher (KGF)