Kingfisher, which owns the B&Q, Castorama and Screwfix chains, has seen successful sales growth in the UK and France.
In the UK and Ireland, where it runs B&Q and Screwfix stores, sales rose 5.5% compared with a 1.6% rise in the first quarter, whilst sales at its French Castorama division rose 1.3%, following a 1.2% drop in the first quarter.
Véronique Laury, Kingfisher's CEO, said: "We have delivered a solid Q2 sales performance to date across all our major businesses, albeit against softer comparatives than in Q1. I am also very pleased to report that the pilot of our unified IT system, which is a key enabler of our 'ONE' Kingfisher plan, started on time in Ireland. We look forward to updating on further progress against our first 'sharp' decisions in September. And we have to date returned £138m to shareholders via a share buy back since the year end."
Commenting, head of equities at Hargreaves Lansdown Stockbrokers, Richard Hunter said: "Kingfisher has built on the progress announced at the first quarter update, with a statement which implies rapid progress is being made," adding "In the UK, the Screwfix business has contributed another stellar performance, retaining its position as the jewel in the crown."
Kingfisher reported earlier this year that they will be closing 60 B&Q stores in the UK and Ireland over the next couple of years, however they are opening 60 new Screwfix outlets. The firm has said it is on schedule to open 11 Screwfix stores in the second quarter of this year, totalling its stores to 412.
