The parent company of B&Q and Screwfix has seen an increase in second quarter sales thanks to “strong demand” across its EU markets and online.
In the three months leading up to 18 July, the businesses like-for-like sales rose by 21.6 per cent. The giant DIY company announced that the increase in sales have come about as a result of the stores in its portfolio re-opening after the easing of the lockdown restrictions across the UK and France.
“Based on the strong sales seen to date in the second quarter, combined with cost reductions benefiting H1 (some of which are non-recurring), the company anticipates its half year adjusted pre-tax profit to be ahead of prior year,” Kingfisher said.
“Second half visibility remains low given uncertainty around Covid-19 and the wider economic outlook. As such, no specific financial guidance is provided for the full year 2020/2021,” the company said in a statement.
