Belfast Telegraph

Home Business Brexit

DIY sales up at Kingfisher despite Brexit vote

By Ravender Sembhy

B&Q owner Kingfisher notched up impressive sales growth in the second quarter and said there has been "no clear evidence" of falling demand following the Brexit vote.

In July the company announced it would save 72 jobs after cancelling the planned closure in Lisburn's Sprucefield Retail Park. Kingfisher said its like-for-like sales were up 3% to £3bn in the second quarter, driven by strong growth at trade outlet Screwfix.

Like-for-like sales at Screwfix - which has seven stores here - rocketed 13.3% as it benefited from extended ranges and new store openings. Same-store sales at B&Q rose 5.6%.

Chief executive Veronique Laury said: "We have delivered another solid sales performance in Q2 driven by 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."

B&Q is closing four Ulster stores as part of a UK-wide turnaround plan. Boucher Road in Belfast, as well as Craigavon, Ballymena and Londonderry have all been shut. Its stores will remain open in Coleraine, Holywood Exchange, Newtownabbey and Newry, as well as Lisburn.

Belfast Telegraph