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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 WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
