Steve Collinge

Britain’s #manufacturers are calling on the next Government to make rolling out Devolution Deals across the whole of England a key local growth priority in order to bring the benefits of devolution to areas currently left behind. This should involve a more structured process which pulls together existing local authority and devolution legislation into one powerful devolution act, and include the introduction of US style ‘bond referendums’ to raise funds for regional infrastructure projects which are struggling to get national funding. The call was made by Make UK in a new report, “For or against? The case for further devolution,” which shows that #manufacturers have felt the transformational effect of devolution deals, and have benefitted greatly from existing devolution funding. However, companies felt that longer-term devolution plans would deliver more effective and lasting results for local business and growth. Faye Skelton, Head of Policy Make UK said: “Devolution has been an obvious success story for #manufacturers and should now be extended to bring the existing benefits to those areas of England which risk being left behind. This must start with a more streamlined and structured process which brings together the powers of Local Authorities and Devolution Deals into one Devolution Act." https://lnkd.in/dmsc9m7J #SupportUKmfg #ShoutAboutUKmfg #UKmanufacturing #UKmfg #UKmfgUnite

23

7 Comments

Kingfisher plc has today published their Q1 Trading Results for the period ending 30 April 2024. Key points - Q1 sales of £3.3bn; total sales +0.3% (constant currency) and -0.3% (reported) - LFL -0.9% including a +1.9% calendar impact (of which +1.1% relates to the leap year)(1) Thierry Garnier, Chief Executive Officer, said: “Trading in the first quarter has been in line with our expectations. We have seen continued resilience in our core categories, although ‘big-ticket’ sales have been weak reflecting the broader market as expected. In the UK, we have gained considerable share across our banners. Our trade proposition continues to resonate with customers, driving positive LFL sales at Screwfix and strong LFL sales growth of 8.5% at TradePoint. In France, while slightly improved on Q4, trading reflects the weak overall retail market. And in Poland, we are seeing encouraging sales trends as the consumer environment improves. More on Insight DIY here - https://lnkd.in/e2bBBeCi #retail #retailnews #homeimprovement #trading

162

7 Comments

Lots of interesting content and commentary being shared following the publication this morning of Kingfisher plc Half Year Results for the six months ended 31 July 2024. Overall performance has been described by the business as 'In line with expectations', but below the surface there are some interesting facts:- - Total KF Sales £6.756m, -1.4% below last year (-2.4% like for like). - UK & Ireland -0.2%, despite the horrible garden season, so fairly resilient. - French performance and market still in a bad place -7.2% like for like decline. - Weak performance of Big Ticket - same message as Wickes last week. - Strong performance from TradePoint UK, with like for likes +7.1% and now 22% of overall B&Q Sales - 20% this time last year. - B&Q like for like Sales -1.0% and Screwfix Sales +1.2%. - Total Group e-commerce sales +8.4% driven by UK and Ireland. - E-commerce overall KF Group penetration now at 18.3%. - B&Q Marketplace now 41% of B&Q ecommerce sales in Q2. - As of 31 July, B&Q had a total of 309 stores in the UK & Ireland and Screwfix had 938. - Screwfix continues to plan for up to 40 new stores in the UK & Ireland in FY 24/25 Read more detail on Insight DIY here - https://lnkd.in/ey7NkhNQ Have fun flicking through the 47 page presentation below - you're very welcome! #results #retailnews #homeimprovement #retail #commerce

57

4 Comments

ACQUISITION NEWS: AFC Industries has acquired Birmingham UK based distributor Forward Industrial Products (Forward Industrial Products Group) through its TFC Business Unit. Terms of the deal were not disclosed. Forward Industrial Products Group Ltd is an industry leading supplier of C Class components, vendor managed inventory services and MRO services, with a focus on enhancing the productivity and effectiveness of its customers’ manufacturing operations. Forward provides a range of value-added services as well as both standard and custom items and engineered products. Birmingham-based Bracebridge Corporate Finance was the sole advisor to Forward for the transaction. We’re really pleased to be part of AFC and the growing TFC group. The partnership is a perfect fit for Forward Industrial," said Martyn Cleaver, Managing Director of Forward. "It opens up new opportunities within our existing customer network and enables us to share our 28 years of industry expertise with TFC's customers and bring their strengths to ours. Our management team is excited about the next chapter with AFC/TFC.” AFC CEO Kevin Godin remarked, “It was a strategic goal of ours to expand our operations and capabilities in the U.K. and Europe in a way that would complement our TFC team. Forward is a great fit for us both culturally and geographically. Their dedication to service and solving problems for customers make them a natural integration for us.” President of AFC Europe (TFC), Morgan Burgoyne, added, “bringing these teams together immediately strengthens both and further establishes us as the leading component solutions provider in our key markets. The future is bright as we continue to invest in the right people and capabilities to provide superior market knowledge and service to our customers.” For additional questions please contact: [email protected]. #ThinkLINK #fasteners #fastenernews #fastenerindustry #acquisition

21

Travis Perkins plc like for like (LFL) revenue was down by (3.7)% year on year (YoY) in the first quarter to 31 March 2024 LFL Sales across the Merchanting segment were down by (4.2)% YoY in the quarter. Trading volumes remaining subdued with LFL volume sales flat and price/mix down by 4.2%YoY. Pricing remains lower than prior year primarily due to the rollover impact of timber deflation. Toolstation UK revenues declined by (0.9)% YoY. £35m of cost savings delivered from a reduction in regional and central headcount. Work continues to “address loss-making activities within the Group, and access longer-term structural benefits”. Plans include, simplifying the operating model, reducing supply chain costs and using new technology.

5

Howdens have published interim results with the company showing group revenue growth of 4.3% in what has been widely reported as a challenging market. Margins have been maintained and market share is growing. However, the market appears to have been disappointed by Howdens' H1 results (shares fell 4% yesterday). This probably ignores the fact that revenue growth of 4% was delivered despite the kitchen market being down 6-7% and with pricing in the market being more competitive than last year. EBITA was flat only after strategic operational expenditure, which has a solid track record of driving market share gains. Read their half year announcement here - https://lnkd.in/eEaqFz89 Strategically, the company is now manufacturing more of the goods it sells and is increasing inventory levels - maybe preparing for the market growth which is sure to come! #retailnews #retail #kitchens #homeimprovement

193

3 Comments

Wickes Group plc has released a Trading Update for six months ending 29 June. Overall Group LFL sales decreased by 3.9% compared to the prior year, with retail sales up by 0.6% but Design & Installation LFL sales declined by 18.3%. Retail Sales (i.e. not the ‘big ticket’ installed sales such as Kitchen, Bathroom, etc), “remain resilient and we have continued to increase market share to record levels, demonstrating the continued strength of Wickes’ great value and service-led proposition”. Growth in the first half was driven by volume, with selling price deflation of around 3%. The phasing impact of the Easter peak trading period this year reduced Retail LFL sales in Q2 by 1.4%. Design & Installation 'delivered' sales in the half declined by 18.3% versus 2023, reflecting the continued soft consumer appetite for larger ticket purchases and a strong comparative in H1 2023. Ordered sales in the first half have shown a single digit year-on-year decline. Sales of lower-priced Wickes Lifestyle Kitchens were up 18.8% year-on-year in H1. Within Retail, TradePro sales continue to perform strongly, up 14% in the half, reflecting a healthy pipeline of work for local trade professionals and continued sign-ups to the TradePro scheme. Active TradePro members have increased by 18% year-on-year to 541,000. DIY sales remain in moderate decline as customers continue to focus on smaller projects. For more details click below...

2

1 Comment

First-quarter full-price sales at British high street retailer Next increased 5.7% year on year, "slightly exceeding" the expected 5% growth. However, it has warned that second-quarter sales are expected to fall by 0.3% year on year. Find out more below. #next #highstreet #retailer #retailsales #fashionnews

4

Total LFL #retail #sales climbed by +8.44% this week, rebounding from a weak base of -5.98% for the same week last year – reports the BDO's High Street Sales Tracker. Total homewares LFL sales rose by +5.59% this week from a negative base of -4.77% for the same week last year, denoting the 17th positive result in 2024 for the category. Store sales for #homewares increased by +2.35%, but from a weak base of -0.40% from the same week in 2023, achieving the category’s 19th positive result in 2024. https://lnkd.in/gsgAKvMc BDO UK LLP #furniture

6

CAP Plc leads as best performing stock in May 2024 Exciting news to start the month of June 😂 Chemical and Allied Products Plc, the biggest paint producer in Nigeria produced a 34.42% gain in May. The company closed the month with a share price of N34.95, from N26.00 at the start of the month.    In Q1 2024, CAP Plc posted a 228% YoY growth in its profit after tax to N1.27 billion, from N389 million as of Q1 2023. The company’s impressive financial performance combined with a dividend yield of 6.5% based on a dividend of N1.55 per share are enticing figures for investors.  Source: Nairametrics https://lnkd.in/e5ntDEZU

116

19 Comments

📈 Kingfisher Q1 Results: Resilient Performance 📈 Kingfisher plc has released its Q1 Trading Results for the period ending 30 April 2024, highlighting resilient performance in challenging times. 📌 Key Points: Q1 Sales: £3.3bn; total sales +0.3% (constant currency) UK & Ireland: Gains at B&Q and Screwfix with strong e-commerce and TradePoint sales France: Sales in line with expectations Poland: Improved sales trend 📌 Category Highlights: Core: Resilient (LFL -0.3%) Big-ticket: Weak as expected (LFL -6.3%) Seasonal: Resilient (LFL +1.9%) 📌 Strategic Moves: New Screwfix stores in France and the UK E-commerce sales up 12.7% Strong growth at B&Q's e-commerce marketplace TradePoint LFL sales up 8.5% Kingfisher remains focused on strategic priorities and confirms full-year guidance for FY 24/25. Read the full article here: https://lnkd.in/eHwMjx8P #Q1Results #DIY #Retail #news #Ecommerce #Business #Growth #Sustainability

20

The latest consumer confidence data from the British Retail Consortium and Opinium suggests a potentially turbulent few months ahead for retailers https://lnkd.in/eH8sDJQX #retail #retailnews #consumerconfidence #consumersentiment #consumerinsights

2

1 Comment

I’m delighted to be presenting on the subject of ‘Trends and opportunities impacting on the Building Materials sector’ at the NMBS Conference next week in Limassol. Running from 6th to 9th June, the popular NMBS conference is dedicated to Building, Plumbing, Heating, Hardware and Timber Merchants. I’ll be covering the fact that our customers are changing and so are their expectations and why Trade is becoming such a major focus for B&Q and Wickes. Disruption is here and with Buying Power continuing to shift, what are the opportunities and where do the merchants and brands need to focus their efforts on the next 3 years? More here - https://lnkd.in/eaBNsw-6 #disruption #homeimprovement #retail #trade

140

7 Comments

The latest CBI Distributive Trades Survey shows a sharp fall in retail sales in the year to April https://lnkd.in/eqSVbMFj #retail #retailnews #retailsales #distributivetrades #economy #consumerspending

1