B&Q sales boosted by renewed interest in DIY

UK DIY giant B&Q has reported a big rise in sales thanks to a resurgent interest in DIY and recent good weather. Sales at B&Q effectively rose by 5.7% in the 13 weeks to the end of October, compared with 2008.

Rising DIY sales, together with cost savings, meant B&Q saw retail profits of £43m, up by 45%. All in all this gave a boost for Kingfisher B&Q's owner, which reported a 28.3% rise in group retail profits to £227m.

B&Q saw sales of larger items rise significantly, with kitchen appliances up 27%. Outdoor DIY products also sold well rising by 11%.

"This is a strong set of results," said Kingfisher chief executive Ian Cheshire. He did, however, warn that the group would receive "no early help from improved consumer demand".

Analysts said the group was well positioned for the months ahead, with costs falling and income rising.

"Kingfisher enters its final quarter in extremely good shape, with earnings growth continuing to progress apace," said Richard Hunter from Hargreaves Lansdown Stockbrokers.

So, get DIY shopping at DIYsupermarket.com!