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Bucking The Trend

With quarterly results due from the owner of B&Q due this week, investors are hoping for good news from the DIY sector as a whole.

It is thought that the warmest April on record and the increase in bank holidays have resulted in increased sales of items such as barbecues and garden furniture. This has led to an expected sales growth of 3% for B&Q for the three months to the end of April.

A researcher from the Bank of America, Aurelie Casar, has commented that B&Q and the Kingfisher group could outperform the sector and that the city is looking for expansion plans.

B&Q currently has 492 stores across the UK and Ireland; 162 of these are under the Screwfix banner. A further 203 stores are in France and 161 a spread throughout China and Russia. B&Q has also bought some new stores from Focus DIY.

Topps Tiles is another DIY sector company which is reporting improved sales figures. They have said that their like for like sales rose by 1.8% in the first half of the year, however this did fall slightly in the second quarter.

Both of these companies seem to be bucking the trend of others in the sector such as Wolseley who issued a profit warning this year and Focus DIY which has gone into administration.