British retailer Kingfisher posts rising quarterly sales

2nd June 2011, Comments 0 comments

Kingfisher, Europe's biggest home-improvements retailer, on Thursday posted rising first-quarter sales as warm spring weather in Europe lifted demand for gardening and outdoor products.

Revenues climbed 3.3 percent to £2.73 billion ($4.5 billion, 3.1 billion euros) in the three months to April 30, compared with the same period of the previous financial year, Kingfisher said in a trading update.

The group, which owns the B&Q chain in Britain and Castorama in France, added that it was also boosted by the later Easter holidays compared to last year, and the impact of extended public holidays in Britain.

"I am pleased that we have made a strong start to the year," said Chief Executive Ian Cheshire in the statement.

He added: "Whilst we have got off to a good start, it remains our view that this year is likely to be a tough one for all retailers, especially in the UK.

"It is also likely that the early spring weather will have brought forward some of our outdoor seasonal sales."

© 2011 AFP

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