Trade at B&Q’s Irish stores improves

DIY retailer B&Q Ireland has shown signs of improved trading since emerging from examinership in May, its parent company said yesterday.

As part of its first-half results announcement, British retail group, Kingfisher — which owns the B&Q and Screwfix brands, amongst others — said that B&Q’s UK & Ireland sales fell by 1.8%, on a year-on-year basis, during the six months to the beginning of August, to £1.96bn (€2.33bn).

Outdoor seasonal product sales were up by around 6%, helped by a marked recovery in the second quarter; while sales of indoor products were down by approximately 3%.

Regarding the B&Q business here the group said: “In Ireland, following the conclusion of the examinership process in May 2013, one store has now closed and significant rent reductions have been achieved across the remaining stores. The stores are showing signs of improved trading.”

Kingfisher also said that total group sales for UK and Ireland rose by 0.2%, on a year-on-year basis, in its first half to £2.27bn.

On an overall group basis adjusted pre-tax profits fell, year-on-year, by 1.6% to £365m, but sales increased by 4.3% to just over £5.7bn.