Kingfisher, parent company to B&Q and Screwfix, has reported another quarter of UK growth, but stagnant trading in France where the economics are somewhat fragile.
The retail group said Q3 trading conditions had followed a similar trend to the first half of the year, reflecting “the more encouraging macroeconomic backdrop in the UK offset by a softer market in France.”
France’s Castorama and Brico Depot faced more challenging trading conditions, achieving a mere 0.1% growth. Kingfisher’s French operations were also hit by the depreciation of the euro against sterling, sending reported sales down 7% in the 13 weeks to October 31.
That left retail profits in France 16% lower at £109m, compared with a 14