LONDON (Alliance News) - DIY retailer Kingfisher PLC on Thursday reported growth in sales in the second quarter of its financial year, but said it remains cautious on its short-term outlook despite not seeing reduced demand yet in the UK following the nation's decision to leave the European Union.
Kingfisher, which owns B&Q and Screwfix in the UK, said total group sales rose by 8.4% year-on-year, with UK & Ireland sales up 5.1%, sales in France up 10% and other international sales up 13%.
On a like-for-like basis, group sales increased by 3.0% on a constant currency basis, comprising 7.2% growth in the UK & Ireland and 7.0% growth in other international, partially offset by a 3.2% decline in France.
Kingfisher said sales growth was mostly attributable to the UK and Poland.
"In the UK, the EU referendum result has created uncertainty for the economic outlook, although there has been no clear evidence of an impact on demand so far on our businesses. In France, widespread industrial action and exceptionally wet weather created a more challenging environment, after a more encouraging first quarter. We remain cautious on the short-term outlook," Chief Executive Veronique Laury said in a statement.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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Kingfisher (KGF)