15 Sep 09 billion) in the year to Feb
Wolseley hit by dearth of home improvement
LONDON https://www.forcanadagoose.ru, March 26 (Reuters) Britain Kingfisher and Wolseley Canada Goose Jackets reported sharply lower profits as cash strapped uk canada goose outlet consumers cut back on canada goose clearance sale home improvements in the economic downturn.
Kingfisher, Europe largest DIY retailer, and Wolseley, the plumbing buy canada goose jacket supplies group, are battling canada goose uk outlet a prolonged squeeze in disposable incomes in Europe that is particularly affecting sellers of ticket items such as kitchens and bathrooms.
British home improvement firms are also being hit by a continuing low level of housing transactions, since moving house canada goose is often associated with spending on home improvements.
Poor weather has also hit demand. In 2012 Britain had its wettest summer in 100 years, while 2013 Canada Goose Outlet has Canada Goose Coats On Sale got off to a cold start with average March temperatures on course to be the lowest for 40 years, according to the Meteorological Office.
Kingfisher, Canada Goose online which runs market leader B in Britain and trades as Castorama and Brico cheap Canada Goose Depot in France, on Tuesday reported an 11.4 percent fall in underlying pretax profit to buy canada goose jacket cheap 715 million pounds ($1.09 billion) in the year to Feb. 2.
That was in line with analysts consensus forecast but down from 807 million pounds in 2011 12.
Group sales fell 2.4 percent to 10.57 billion pounds, uk canada goose with weak consumer confidence resulting in like for like sales declines in its three key markets of Britain, France and Poland.
Adverse foreign exchange movements when translating overseas profits in euro and Polish zloty into sterling knocked 39 million pounds canada goose coats on sale off profit, while rain in Britain cost it 25 million pounds as fewer canada goose store customers visited its stores.
Chief Executive Ian Cheshire told reporters improvement in UK employment data and measures to stimulate the housing market Canada Goose Parka in finance minister George Osborne budget speech last week were encouraging signs, though any recovery looked fragile.
planning on markets not really giving us any canada goose uk shop help and us having to go out and work harder. Equally it would be canada goose clearance bad luck if we got another 100 year summer, he said.
It was too early to say what impact a cold February and March would have on first quarter sales, said Cheshire, noting April was the key month for horticultural trade.
PROFITABILITY DRIVE Kingfisher, the world No. groups Lowe and Home Depot
Its shares, down 9 percent over the past year, were up 1.2 percent at 286.8 pence at 1312 GMT canada goose outlet, supported by a net cash position of 38 million pounds and a 7 percent dividend rise.
At Wolseley, exceptionals mostly consisting of write downs, disposals and staff redundancy costs amounted to 87 million pounds, which helped push pretax profit down 20 percent for the six months to end January to 199 million pounds.
Of the charges, 63 million pounds was related to Canada Goose sale France where canada goose factory sale the firm is looking canada goose coats to dispose of and close up to 40 percent cheap canada goose uk of its building materials business Reseau Pro. The group has cut 990 jobs in Europe since August as homeowners and businesses in the region put off repairs and maintenance to properties.
Group revenue fell 8.1 canada goose uk black friday percent to 6.28 billion pounds.
Wolseley shares were down 3 percent at 3,115 pence.
In canadian goose jacket sharp contrast to Kingfisher and Wolseley, British housebuilder Bellway beat forecasts with a 47.5 percent rise in pre tax Canada Goose Online profit in the six months to end January to 59.9 million pounds.
UK canada goose black friday sale housebuilders have defied the economic downturn by snapping up development land cheaply during the recession and focusing on the south where house prices have stayed strong.