Kingfisher PLC Q3 Trading Update (7583P)
22 November 2016 - 6:00PM
UK Regulatory
TIDMKGF
RNS Number : 7583P
Kingfisher PLC
22 November 2016
Tuesday 22 November 2016
Q3 to 31 October 2016
Kingfisher reports sales of GBP3.0 billion, +1.8% LFL*
Financial overview and highlights: Sales % Total % Total % LFL Change
2016/17 Change Change Constant currency
GBPm Reported Constant currency
UK & Ireland (1) 1,243 +2.8% +2.5% +5.8%
- B&Q UK & Ireland 900 (3.3)% (3.6)% +3.5%
- Screwfix 343 +23.1% +23.1% +12.7%
France 1,148 +16.0% (2.6)% (3.6)%
- Castorama 619 +14.8% (3.7)% (3.8)%
- Brico
Dépôt 529 +17.5% (1.2)% (3.3)%
Other International 564 +24.8% +6.8% +4.7%
- Poland 338 +26.7% +9.5% +6.7%
- Russia 100 +18.9% (0.2)% +1.0%
- Spain 80 +19.4% (0.2)% +(1.3)%
- New Country 46 n/a n/a n/a
Development*
Total Group 2,955 +11.5% +1.3% +1.8%
----------------------- --------- ---------- ------------------- -------------------
(1) 2016/17 total and LFL sales cover 3 months
to 31 October (2015/16: 13 weeks to 31 October
for total sales, 3 months to 31 October for LFL
sales)
(2) Through to end of FY 2018/19 (over and above
the annual ordinary dividend)
*Throughout this release '*' indicates first instance
of a term defined in the 2016/17 Half Year Results
Section 5
-- Solid overall Q3 performance with LFL sales
up +1.8% driven by the UK & Poland
-- GBP182m (53m shares) returned year to date via
share buyback of the previously announced c.GBP600m
capital return (2)
-----------------------------------------------------------------------------------------------------------------------------
Véronique Laury, Chief Executive Officer, said:
"Q3 trading conditions have followed a similar trend to the
first half. We have delivered another solid sales performance
overall, trading in line with expectations. Sales have been driven
by Poland and the UK, especially Screwfix, offset by softer sales
in France.
"We continue to make good progress on our strategic milestones
in the first year of our five year ONE Kingfisher transformation,
and remain on track. In addition, we are gearing up for next year
when the level of transformation activity will significantly
increase. We remain confident in our ability to deliver our
ambitious plan, based on always putting customer needs first,
supported by the expertise and energy of our colleagues."
Q3 trading highlights by division (in constant
currencies):
UK & IRELAND
* Total sales +2.5%. LFL +5.8% reflecting continued
strong Screwfix performance and solid B&Q performance
o B&Q UK & Ireland sales -3.6% reflecting store
closure programme which is now nearly complete
(7 in Q3; 59 to date of 65 planned). LFL +3.5%
including c.2% benefit from sales transference
associated with store closures. LFL of seasonal
+5.3%. LFL of non-seasonal, including showroom
+3.1%
o Screwfix sales up +23.1% (LFL +12.7%) driven
by its leading digital capability, new and extended
ranges and 11 new outlets
FRANCE
* Total sales -2.6% (LFL -3.6%). Sales for the home
improvement market (Banque de France data*) -1.9% in
Q3
o Castorama sales -3.7% (LFL -3.8%) reflecting
less promotional activity. LFL of seasonal +5.9%.
LFL of non-seasonal, including showroom -4.9%
o Brico Dépôt sales -1.2% (LFL -3.3%)
OTHER INTERNATIONAL
o Total sales in Poland +9.5% (LFL +6.7%) benefiting
from a supportive market and new ranges. LFL of
seasonal +7.8%. LFL of non-seasonal, including
showroom +6.6%
--------------------------------------------------------------------
Enquiries:
Investor Relations +44 (0) 20 7644 1029
Media Relations +44 (0) 20 7644 1030
Teneo Blue Rubicon +44 (0) 20 7260 2700
------------------------------------------
This announcement can be downloaded from www.kingfisher.com or
viewed on the Kingfisher IR iPad App. Data tables for Q3 2016/17
are available for download in excel format at
http://www.kingfisher.com/index.asp?pageid=59
Our next announcement will be the 2016/17 Final results on 22
March 2017.
We can be followed on Twitter @kingfisherplc with the Q3 results
tag #KGFQ3. Kingfisher American Depository Receipts are traded in
the US on the OTCQX platform:(OTCQX: KGFHY)
http://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 31 October 2016. 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).
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END
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