Sales surge at B&Q boosts parent firm Kingfisher’s profit

Kingfisher, Europe's top home improvement retailer, posted a 20 per cent surge in first quarter retail profit and said it would pay a £100 million special dividend as part of its new plans for extra shareholder rewards.

The group, which runs market leader B&Q and trades as Castorama and Brico Depot in France, said retail profit for the 13 weeks to May 3rd rose to £142 million, just below a company compiled consensus forecast of £145 million.

Boosted by much better weather than in the same period a year ago, group sales at stores open over a year rose 6.1 per cent, including growth of 1.6 per cent in France and 10.1 per cent in the UK and Ireland. (Reuters)