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12/09/2012
£30m Drop In Profits Blamed On Bad Weather
The summer’s heavy rainfall is being blamed for a drop in profits of £30m at DIY retailer B&Q.
Parent company Kingfisher said the record wet weather across the region had a significant impact on customer numbers, leaving sales of seasonal products such as barbecues down by 7%.
It said this meant it had to make higher than usual cuts in prices to shift summer goods.
Profits for the six months to the end of July were down by 16% at £371m.
Its UK and Ireland business was worst hit by the bad weather, with total sales down by 3%. Seasonal product sales fell 11% and customer visits to its stores were down by 20% in the wettest weeks.
Kingfisher's chief executive, Ian Cheshire, said: "This has been a tough first half, with unprecedented wet weather throughout the key spring and summer seasons in Northern Europe."
(H)
Parent company Kingfisher said the record wet weather across the region had a significant impact on customer numbers, leaving sales of seasonal products such as barbecues down by 7%.
It said this meant it had to make higher than usual cuts in prices to shift summer goods.
Profits for the six months to the end of July were down by 16% at £371m.
Its UK and Ireland business was worst hit by the bad weather, with total sales down by 3%. Seasonal product sales fell 11% and customer visits to its stores were down by 20% in the wettest weeks.
Kingfisher's chief executive, Ian Cheshire, said: "This has been a tough first half, with unprecedented wet weather throughout the key spring and summer seasons in Northern Europe."
(H)
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Northern Ireland WeatherThis Evening and 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.
