Kingfisher plc, the retail giant which owns B&Q, grew profits in its home improvement division by 28.7% to £151m during the third quarter.
The company says it has also made “significant progress” towards transforming the group into a specialist home improvement retailer.
Group chairman Francis Mackay said he expected Kingfisher to become Europe’s number one retailer focusing purely on home improvement, once the separation of the company’s UK and French electrical and furniture businesses is completed.
Home improvement sales rose by 16.1% in the third quarter, a 5.2% rise on the same period last year. B&Q capitalised on an extended summer season with strong sales in garden furniture and exterior paints, plus the roll out of its new ‘it’ kitchen ranges to its Warehouse stores.
Kingfisher recently took control of French DIY giant Castorama, by purchasing the remaining 45% shares in the company for €5.1bn. It already owned the other 55%.
