Kingfisher reports 1.8% increase in third-quarter sales

Kingfisher has reported an increase in sales in the third quarter on the back of a strong performance at Screwfix.

Like-for-like sales increased 1.8% year-on-year to £2.96bn ($3.7bn) in the three months to 31 October, following a 3% growth in the previous quarter.

In a statement, Kingfisher said strong growth in the UK and Poland had offset poor performance in France.

Sales at Screwfix jumped 12.7% in the third quarter while those at B&Q were up 3.5%.

Total group sales increased 11.5% from a year earlier.

"We have delivered another solid sales performance overall, trading in line with expectations," Kingfisher chief executive Veronique Laury said.

"Sales have been driven by Poland and the UK, especially Screwfix, offset by softer sales in France."

Laury added that the group's five-year transformation plan remained on track.

"We are gearing up for next year when the level of transformation activity will significantly increase," she said.

"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."

Kingfisher shares opened 3% lower in London on 22 November.