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Tool supplier bucks the downward trend.

Europe Intelligence Wire

| June 05, 2008 | COPYRIGHT 2008 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Western Daily Press)

West trade tool supplier Screwfix was the star performer as B&Q owner Kingfisher reported poor first quarter sales yesterday.

Uk sales for the group dropped nearly eight per cent on last year to GBP1.13 billion in a "very tough" first quarter to May 3.

Kingfisher said the property market slowdown had been a factor in the slump which led to an 8.5 per cent drop in UK retail profits to GBP33 million during the period.

Total group sales including overseas business fell just over four per cent to GBP2.5bn with profits down nine per cent to GBP96m.

But sales at Somerset-based Screwfix shot up 23.6 per cent to GBP127m, thanks to its expanding network trade counters.

The ...

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