Kingfisher reported that like-for-like sales fell 1.8% in the six months to end July with pre-tax profit falling 12.5% to £245m due to poor performance in the UK and France. B&Q saw like-for-like sales in the UK and Ireland fall by 3.2%, which was offset by like-for-like sales at Screwfix rising 5.1% due to strong digital growth and the addition of new stores. In France like-for-like sales were 4.3% lower at Castorama and fell by 4.6% at Brico Depot. The company said it had been hit hard by a combination of weak consumer spending and higher energy prices.
Kingfisher reported that like-for-like sales fell 1.8% in the six months to end July with pre-tax profit falling 12.5% to £245m due to poor performance in the UK and France. B&Q saw like-for-like sales in the UK and Ireland fall by 3.2%, which was offset by like-for-like sales at Screwfix rising 5.1% due to strong digital growth and the addition of new stores. In France like-for-like sales were 4.3% lower at Castorama and fell by 4.6% at Brico Depot. The company warning that the outlook for the remainder of the year was mixed.