Kingfisher logs rising Q1 sales

2014-05-29 05:34:46

(MENAFN- AFP) Kingfisher, Europe's biggest home-improvements retailer, on Thursday posted rising quarterly sales on the back of warmer weather.

Total revenues rose 6.1 percent to Â£2.783 billion ($4.649 billion, 3.420 billion euros) in the 13 weeks to May 3, compared with the same period a year earlier, it said in a trading update.

Kingfisher, which owns French home-improvement chains Castorama and Brico Depot as well as B and Q in Britain, added that pre-tax profits jumped 20 percent to Â£142 million in the reporting period.

The London-listed firm also announced a special shareholder dividend of 4.2 pence per share as part of its ongoing capital returns programme.

"We have made a strong start to the year, capitalising on more favourable weather conditions right across Europe to achieve sales and profit growth in France, the UK and Poland, our three largest markets," said chief executive Ian Cheshire.

The group added that talks with Mr Bricolage were continuing, as it seeks to extend its strong presence in France.

Kingfisher had already revealed last month that it was in exclusive discussions to buy Mr Bricolage.

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