Kingfisher owned B&Q has, for the 13 weeks up-to October 31, reported a definite rise in its sales figures on the back of customers' renewed interest in home improvement. The rise has helped the firm pull out of the recession hurt significantly.
Like-for-like sales for the aforementioned period have recorded a 5.7% hike, nudged higher by sales of items that the company calls "big ticket", and improved DIY performance.
A 27% increase in sales of kitchens and appliances was registered as the company launched a range of new products, which had been revamped substantially. Also, B&Q has managed to gain significantly from collapse of giant competitors like MFI.
"It's a very good set of results and debt is down very strongly", said Ramona Tipnis, an analyst at Oriel Securities with a "buy" recommendation on the firm's shares.
Among other Kingfisher businesses across UK and Ireland, as confirmed by the parent firm, Screwfix is not done with its struggle days yet.
B&Q has 330 stores across UK and Ireland, and overall retail profits for the complete chain have reportedly hiked by 45% during the aforementioned quarter, to 43 Million Pounds.
