B&Q and Screwfix parent Kingfisher has reported sales of more than £13 billion for the year ended 31st January, 2022. This is up by 6.8 per cent on the previous year. B&Q had a particularly strong year with its sales exceeding £4 billion.
The business had suffered a shortage of certain building products, along weith other in the sector, but this had not impacted its overall performance.
Thierry Garnier, CEO said: “Kingfisher has delivered a year of very strong financial performance. We saw growth in all banners and categories, with resilient demand from both DIY and trade segments – each representing 50 per cent of group sales.
“The company has continued to expand its eCommerce operations, with faster click & collect and home delivery, and broader product choices for customers. 18 per cent of sakes are now made online, which is 10 percentage points higher than two years ago.
“For the year ahead, while the macroeconomic and geopolitical environment is uncertain, you can expect from us continued focus on top line delivery and market share growth, strong execution, effective management of our gross margin, and active and responsive management of our operating costs.”
The company also said that it had removed Russian and Belarusian products from its shelves since the start of the war in Ukraine. It had sold its Russian business Castorama Russia in September 2020. The business also operates stores in France, Poland, and Romania and said it was in discussions with suppliers to ensure that no products were being sourced from Russia or Belarus going forward.
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