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 UK home improvement market ‘depressed’

 

Thursday, February 16, 2006


The UK home improvement market remains depressed and price competitive, according to DIY retail chain B&Q, who have failed to turn around falling margins.

DIY sales and home improvement generally fluctuate strongly with movements in the housing market and the firm had warned of a harder time in store back last September when it announced falling six-month pre-tax profits.

Outside the UK however, the Kingfisher group, which owns B&Q, made "good progress" in all of its major markets as like-for-like sales - which exclude new store openings - rose 6.2% during the period.

In France, where it runs the Castorama and Brico Depot chains, Kingfisher saw like-for-like sales rise 2.5%, while in Asia like-for-like sales rose 8% with total sales up by 59%.

B&Q says it has "…acted decisively to support short-term trading, manage stocks and reduce costs at the same time as accelerating the development of B&Q's stores, ranges and services for the future."

 
 
     
     
 

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