TradePoint and Screwfix continue to grow25 March 2014
B&Q’s TradePoint business for trade professionals and sister company Screwfix continue to perform well, according to parent company Kingfisher plc’s full-year results.
B&Q UK & Ireland recorded a 0.4% growth in sales to £3.69bn in 2013. Sales of outdoor products grew around 2%, while indoor product sales dipped 1%.
Sales at the TradePoint business for trade professionals (located in B&Q stores) increased by around 7%. The fast-growing Screwfix business saw sales growth of 17.6% to £665m, with 60 new stores opening last year.
Kingfisher recorded total UK & Ireland sales of £4.36bn and a retail profit of £238m, up 3.3% on a year ago.
The group said the market for the UK's leading home improvement retailer was up by 3.8%, with seasonal ranges up 5%, following record adverse weather last year. On a comparable basis, B&Q UK & Ireland's sales were up by 1.7% (up by 4.1% including Screwfix).
B&Q is "re-energising" its business by improving store navigation and customer communication, plus driving footfall with better targeted marketing.
The better market conditions has led Kingfisher to boost dividends to shareholders, starting with around £200m, during the 2014/15 financial year.