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B&Q sales up in first quarter

Published: 31 May 2007
B&Q owner, Kingfisher plc, has posted better than expected first quarter profits thanks to a warm spring which boosted the sales of gardening and outdoor products.
The company saw group sales rise 14.8% and retail profit up 29.9%.

There was also good news at B&Q, which is undergoing a massive
redevelopment programme. UK sales were up 11.9% (+5.9% like-for-like), reflecting strong sales in outdoor products and kitchens.

Group chief executive, Gerry Murphy, said: "Kingfisher has delivered strong sales and profit growth in the first quarter as good weather across Europe drove early seasonal demand for gardening and outdoor products.
"The year has started well, although it is still early days, with the summer outdoor season still to come.

"While we are pleased with progress on B&Q's redevelopment plan, we remain cautious on the UK market with demand for bigger home improvement projects likely to be sensitive to interest rates."

French sales were up 11% while the rest of Europe showed a 37% rise. In Asia sales increased 9.2%.

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