Kingfisher PLC Q1 Trading Update (0300Z)
May 15 2019 - 1:00AM
UK Regulatory
TIDMKGF
RNS Number : 0300Z
Kingfisher PLC
15 May 2019
Wednesday 15 May 2019: Q1 trading update to 30 April 2019
Kingfisher reports sales of GBP2.8 billion up 1.7% in constant
currency, LFL(1) up 0.8%
Financial highlights
Sales % Total % Total % LFL(1) Change
2019/20 Change Change
------------------------- --------- --------- ------------------ ------------------
GBPm 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
Tel: Email:
Investor Relations +44 (0) 20 7644 1082 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
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END
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