Menu
20/09/2002
B&Q parent company registers huge profit growth
In its interim results Kingfisher, owners of UK DIY chain B&Q, has reported strong first-half growth, with pre-tax profits ahead 26.5% to £274.7 million.
The total retail sales growth for the group was 10.1% to £5.1 billion, with like-for-like sales up 1.3%, and retail profit was ahead by 19.8% to £294.3 million.
Overall, profits before tax were up 26.5% to £274.7 million, but the group signalled its underlying showing strong operating cash flow.
The figures corresponded with weak consumer confidence in France and Germany, along with relatively better conditions in the UK.
The Home Improvement sector performed strongly and total sales grew 14.6%, up 2.8% on a like-for-like basis, with growth in the core categories offset by slower growth in seasonal areas in B&Q.
However, B&Q is in expansion after an announcement last week that at least 200 jobs could be created in Newtownards if plans for a new B&Q Warehouse store get the go-ahead.
The DIY chain proposes to open a 100,000 sq ft store with a 30,000 sq ft garden centre and 20,000 sq ft building products yard on the site of the former Scrabo High School.
The scheme is being developed by JH Turkington of Portadown and as well as the B&Q store, includes two restaurant units.
B&Q has been in the DIY business for more than 30 years and is the UK's most successful and innovative home improvement retailer. B&Q employs over 33,000 people in over 320 UK stores.
B&Q operates two different kinds of stores - the larger B&Q Warehouses which cater for the needs of the keen DIY'er and trade with their wide range of products and staff expertise, and B&Q Supercentres which are convenient for most people to pop into for their everyday needs
If the planning application for the proposed £20 million scheme is successful, it is hoped that work can commence on site by summer 2003 and B&Q would open for business by spring 2004.
A progressive employer, B&Q is recognised for its ‘over 50’s’ policy, which means that older, experienced people in the community, who still have a lot to offer but find it difficult to secure employment, are given the opportunity to get back to work. (GMcG)
The total retail sales growth for the group was 10.1% to £5.1 billion, with like-for-like sales up 1.3%, and retail profit was ahead by 19.8% to £294.3 million.
Overall, profits before tax were up 26.5% to £274.7 million, but the group signalled its underlying showing strong operating cash flow.
The figures corresponded with weak consumer confidence in France and Germany, along with relatively better conditions in the UK.
The Home Improvement sector performed strongly and total sales grew 14.6%, up 2.8% on a like-for-like basis, with growth in the core categories offset by slower growth in seasonal areas in B&Q.
However, B&Q is in expansion after an announcement last week that at least 200 jobs could be created in Newtownards if plans for a new B&Q Warehouse store get the go-ahead.
The DIY chain proposes to open a 100,000 sq ft store with a 30,000 sq ft garden centre and 20,000 sq ft building products yard on the site of the former Scrabo High School.
The scheme is being developed by JH Turkington of Portadown and as well as the B&Q store, includes two restaurant units.
B&Q has been in the DIY business for more than 30 years and is the UK's most successful and innovative home improvement retailer. B&Q employs over 33,000 people in over 320 UK stores.
B&Q operates two different kinds of stores - the larger B&Q Warehouses which cater for the needs of the keen DIY'er and trade with their wide range of products and staff expertise, and B&Q Supercentres which are convenient for most people to pop into for their everyday needs
If the planning application for the proposed £20 million scheme is successful, it is hoped that work can commence on site by summer 2003 and B&Q would open for business by spring 2004.
A progressive employer, B&Q is recognised for its ‘over 50’s’ policy, which means that older, experienced people in the community, who still have a lot to offer but find it difficult to secure employment, are given the opportunity to get back to work. (GMcG)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
24 October 2002
Revitalised Marks & Spencer stores reopen
Marks & Spencer have reopened the doors of their Buttercrane Shopping Centre in Newry and Forestside Shopping Centre in Newtownbreda. Following completion work, estimated to have cost over £1.5 million, the stores represent two of three outlets in Northern Ireland due for a ‘renewal programme' this year.
Revitalised Marks & Spencer stores reopen
Marks & Spencer have reopened the doors of their Buttercrane Shopping Centre in Newry and Forestside Shopping Centre in Newtownbreda. Following completion work, estimated to have cost over £1.5 million, the stores represent two of three outlets in Northern Ireland due for a ‘renewal programme' this year.
04 October 2001
B&Q confirm 370 jobs in new retail expansion
DIY superstore B&Q chain has confirmed that it is to create over 350 jobs in the creation of two new retail warehouses in Craigavon and Newtownabbey.
B&Q confirm 370 jobs in new retail expansion
DIY superstore B&Q chain has confirmed that it is to create over 350 jobs in the creation of two new retail warehouses in Craigavon and Newtownabbey.
13 April 2021
Hinch Distillery And Visitor Centre Officially Opens
The new Hinch Distillery and visitor centre located just outside Ballynahinch has officially opened.
Hinch Distillery And Visitor Centre Officially Opens
The new Hinch Distillery and visitor centre located just outside Ballynahinch has officially opened.
10 January 2020
NI Councils Provide Digital Support For Small Firms
Two Northern Ireland councils have joined forces to launch a Digital Growth Programme to support the development of small businesses.
NI Councils Provide Digital Support For Small Firms
Two Northern Ireland councils have joined forces to launch a Digital Growth Programme to support the development of small businesses.
15 March 2019
Sales-Focused Mentoring For L'Derry Firms
Small businesses operating in the L'Derry area are being encouraged to take part in a Sales Growth Programme.
Sales-Focused Mentoring For L'Derry Firms
Small businesses operating in the L'Derry area are being encouraged to take part in a Sales Growth Programme.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
