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Regulatory Story
Company Kingfisher PLC
TIDM KGF
Headline Q1 Trading Update
Released 07:00 15-May-2019
Number 0300Z07

RNS Number : 0300Z
Kingfisher PLC
15 May 2019
 

Wednesday 15 May 2019: Q1 trading update to 30 April 2019

Kingfisher reports sales of £2.8 billion up 1.7% in constant currency, LFL(1) up 0.8%

 

Financial highlights

 

 


% Total

Change

% Total

Change

% LFL(1) Change


£m

Reported

Constant currency

Constant currency

UK & Ireland   

1,284

+5.0%

+5.0%

+3.4%

- B&Q UK & Ireland

851

+2.8%

+2.8%

+2.8%

- Screwfix

433

+9.6%

+9.6%

+4.5%

France

1,020

(5.1)%

(3.4)%

(3.7)%

- Castorama

532

(4.1)%

(2.4)%

(2.4)%

- Brico Dépôt

488

(6.2)%

(4.5)%

(5.1)%

Other International

531

+0.7%

+4.6%

+4.2%

- Poland

347

+2.9%

+7.4%

+6.2%

- Romania

39

+6.0%

+10.1%

+24.6%

- Iberia (2)

80

(2.1)%

(0.4)%

(0.4)%

- Russia

62

(8.9)%

(5.1)%

(7.0)%

- Screwfix Germany

 

3

(16.3)%

(14.8)%

+9.3%

Total Group

2,835

+0.3%

+1.7%

+0.8%

 

 

Véronique Laury, Chief Executive Officer, said:

 

"The Group delivered positive sales growth in the first quarter, with sales of unified and unique ranges continuing to grow ahead of non-unified ranges. Screwfix, Poland and Romania delivered good sales growth while our performance in France was mixed within the quarter.

 

"This year we are focused on completing the building of our 'engine' and making our innovation more visible to customers. Our new outdoor range was rolled out to all markets in the quarter alongside a globally coordinated marketing campaign. We are also excited to be launching several new ranges this year which are unique to us and will further differentiate us from our competitors, including surfaces & décor and bathrooms across the Group, and kitchens in B&Q. In addition, we are piloting a new convenience store concept which we look forward to demonstrating at today's Kingfisher Innovation Day.

 

"At this early stage of the year our expectations for the full year are unchanged, and we remain confident in our ability to deliver significant financial benefits over time."

 

 

Q1 trading highlights by division (in constant currencies)

 

UK & IRELAND

Total sales +5.0% (LFL +3.4%)

·     B&Q UK & Ireland sales +2.8%. LFL +2.8% reflecting stronger weather-related performance benefiting LFL by +c. 6%, partly offset as expected by c. 2% impact from discontinuation of showroom installation services

·     Screwfix sales up 9.6%. LFL +4.5% with 4 new outlets opened in the UK during Q1

 

FRANCE

Total sales -3.4% (LFL -3.7%)

·     Castorama sales -2.4%. LFL -2.4% reflecting a positive start to the year, offset by transformation-related activity

·     Brico Dépôt sales -4.5%. LFL -5.1% largely reflecting the proactive reduction of low margin special promotional activity

 

OTHER INTERNATIONAL

·     Total sales in Poland +7.4%. LFL +6.2% reflecting the continued good performance of unified & unique ranges, and despite the loss of one further Sunday of trading per month

·     Total sales in Romania +10.1%. LFL +24.6% reflecting strong performance of unified & unique ranges. The integration of Praktiker is progressing well with all stores now rebranded as Brico Dépôt

 

 

Kingfisher Innovation Day

 

Kingfisher is today hosting an Innovation Day for investors and analysts in London, UK. At the event we will demonstrate several innovative new products and services to help the home improver and the professional simplify and realise their home improvement missions and projects. We will also demonstrate a new convenience format, as well as our vision of helping customers realise their entire home improvement project in one place, offering both inspiration and advice. We will also discuss the continuous improvement of our best-in-class Screwfix proposition. No new material financial information will be disclosed during this event. An Innovation Day for media will also be held on Thursday 16 May.

 

 

Footnotes

 

(1) Like-for-like sales growth representing the constant currency, year on year sales growth for stores that have been open for more than a year

(2) Brico Depôt Spain & Portugal

 

Contacts

 

Investor Relations

Tel:

+44 (0) 20 7644 1082

Email:

investorenquiries@kingfisher.com

Media Relations

+44 (0) 20 7644 1030

corpcomms@kingfisher.com

Teneo

+44 (0) 20 7260 2700

Kfteam@teneo.com

 

This announcement can be downloaded from www.kingfisher.com. Data tables for Q1 2019/20 are available for download in excel format at www.kingfisher.com/index.asp?pageid=59

 

Our next announcement will be the Half Year results on 18 September 2019.

 

We can be followed on Twitter @kingfisherplc with the Q1 results tag #KGFQ1. Kingfisher American Depository Receipts are traded in the US on the OTCQX platform:(OTCQX: KGFHY) www.otcmarkets.com/stock/KGFHY/quote 

 

Forward-looking statements

 

You are not to construe the content of this announcement as investment, legal or tax advice and you should make your own evaluation of the Company and the market. If you are in any doubt about the contents of this announcement or the action you should take, you should consult a person authorised under the Financial Services and Markets Act 2000 (as amended) (or if you are a person outside the UK, otherwise duly qualified in your jurisdiction).

 

This announcement has been prepared in relation to the financial results for the Quarter ended 30 April 2019. The financial information referenced in this announcement is not audited and does not contain sufficient detail to allow a full understanding of the results of the group. Nothing in this announcement should be construed as either an offer or invitation to sell or any offering of securities or any invitation or inducement to any person to underwrite, subscribe for or otherwise acquire securities in any company within the group or an invitation or inducement to engage in investment activity under section 21 of the Financial Services and Markets Act 2000 (as amended).

Certain information contained in this announcement may constitute "forward-looking statements" (including within the meaning of the safe harbour provisions of the United States Private Securities Litigation Reform Act of 1995), which can be identified by the use of terms such as "may", "will", "would", "could", "should", "expect", "anticipate", "project", "estimate", "intend", "continue", "target", "plan", "goal", "aim" or "believe" (or the negatives thereof) or other variations thereon or comparable terminology. These forward-looking statements include all matters that are not historical facts and include statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the Company's results of operations, financial condition, changes in global or regional trade conditions, changes in tax rates, liquidity, prospects, growth and strategies. By their nature, forward-looking statements involve risks, assumptions and uncertainties that could cause actual events or results or actual performance of the Company to differ materially from those reflected or contemplated in such forward-looking statements. No representation or warranty is made as to the achievement or reasonableness of and no reliance should be placed on such forward-looking statements.

 

The Company does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances or in the Company's expectations.

 


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