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Good start to the year for Screwfix

Published: 8 June 2007
First quarter results for Screwfix have been encouraging and showed sales growth of 25.9% to £103 million in the 13 weeks ending May 5, 2007.
The business, which had a 2006/2007 turnover of £345m, has opened 15 Trade Counters during the quarter, bringing the total to 61 across the UK.

Simon O'Mahony, head of marketing at Screwfix said: "We are delighted by the figures.

"Whilst the retail profit has decreased slightly over previous periods, the results reflect the significant start-up costs of our second distribution centre, which is due to open in Stafford this summer, as well as the Trade Counter pre-opening costs."

He added that customers have responded well to recent Trade Counter openings as well as a £10m promotional campaign in the latest catalogue.

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