Kingfisher plc have released its Q1 figures revealing a strong performance versus pre-pandemic levels.
Sales for the company are significantly ahead of those from three years ago, up 16.2%, and supported by strong market share gains.
Sales of £3.2bn are in line with their expectations for the period.
Thierry Garnier, Chief Executive Officer, said: “Kingfisher has delivered a good first quarter of trading, with LFL sales 16.2% ahead of our pre-pandemic performance. While facing very strong comparatives in the prior year, our continued strategic progress has enabled us to retain a significant proportion of the increased sales during the pandemic.
“We continue to effectively manage inflationary and supply chain pressures. As a result, our product availability is now very close to ‘normal’ levels across all our banners, and we continue to deliver value for our customers through our own exclusive brands and competitive prices.
“Looking forward, we are reiterating our profit guidance for FY 22/23. We are focused on delivering on our strategic objectives and growth initiatives, including the growth of our scalable e-commerce marketplace, the expansion of Screwfix in the UK and France, new store openings in Poland, further increasing our trade customer base.
“We remain committed to delivering attractive returns for our shareholders and are today announcing a further £300m share buyback programme. This reflects our strong cash generation and our confidence in the Group’s outlook.”