Warm Easter tipped to boost profits at B&Q owner Kingfisher

Analysts at Jefferies are pencilling in a 2.6 per cent rise in like-for-like sales at B&Q.
Analysts at Jefferies are pencilling in a 2.6 per cent rise in like-for-like sales at B&Q.
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The warmest UK Easter weekend on record is expected to see B&Q owner Kingfisher reveal a strong recovery in sales when it reports first-quarter figures this week.

Analysts at Jefferies are pencilling in a 2.6 per cent rise in like-for-like sales over the period, comparing with a torrid start to 2018 when trading slumped 9 per cent amid the Beast from the East extreme weather.

Overall first-quarter like-for-like sales at Kingfisher, which also owns chains including Castorama in France and Screwfix, are likely to rise by around 1 per cent, according to Jefferies.

The trading update comes as the group searches for a successor to under-fire boss Veronique Laury.

It announced in March that she planned to step down but has not yet set a departure date.

Kingfisher’s annual report this month showed her total pay package rose by 11 per cent to £1.8 million thanks to a hefty salary hike and bonus.