DIY chains booming

LOCKDOWN sales surged at DIY pair B&Q and Screwfix as they stayed open as an ‘essential’ retailer.

Like- for- like takings jumped 21.8pc in the three months to June 13, compared with a year ago.

It followed a fall in sales at the two brands’ parent company Kingfisher of 24.8pc in the three months to the end of April. Kingfisher

retained cash by cancelling its final dividend in March, and made use of the furlough scheme and the business rate holiday.

Kingfisher profits fell from £300m to £103m in the year to January 31. Its jewel in the crown is Screwfix, which is responsible for 36pc of UK and Ireland sales, and saw sales climb 9.4pc in the year to January.