Long hot summer set to boost fortunes at B&Q

WEEK AHEAD

B&Q is expected to reveal a second-quarter boost from the warm weather this week, helped by shoppers splashing out on barbecues and garden furniture.

The DIY chain is forecast by analysts at Jefferies to post a 1.3 per cent rise in like-for-like sales for the period when its parent company Kingfisher issues a trading update.

It would represent a significant bounce back from the 9% decline recorded in the first quarter, when sales were pummelled by the “Beast from the East” snow storm. .

Nicholas Hyett, equity analyst at Hargreaves Lansdown, said: “The warm weather may well have whetted the appetite for barbecues and garden furniture sales, so we expect these categories to

Establishment Investment Trust PLC, 7.30p; INVESCO Asia

Trust, 5.50p; Investec, 13.50p; Mountview Estates, 200p.

TODAY:

Anglo Pacific Group, 1.625p; Halma, 8.97p; Majestic Wine, 5.20p;

WEDNESDAY:

perform strongly at B&Q owner Kingfisher.”

B&Q is also likely to benefit from turmoil at rival Homebase, which is embarking on a large-scale store closure programme under its new owner Hilco.

Sister company Screwfix, Kingfisher’s standout performer, is expected to continue a stellar run of National Grid, 30.44p; Shoe Zone, 3.50p.

SQN Asset Finance Income Fund Ltd., 0.6042p; Treatt, 1.60p.

THURSDAY:

Aberdeen Asian Income Fund Ltd., 2.25p; Castings, 11.12p; Crystal

FRIDAY:

form with comparable growth of 6%.

Graham Spooner, investment research analyst at the Share Centre, said: “The market will be interested to see if the recent warm weather has encouraged customers at its B&Q chain to do more DIY activities and buy its products.

“It is certainly in need of Amber Fund Ltd., 2.50p; Heath (Samuel) & Sons, 6.875p; Immunodiagnostic Systems Holdings, 1.70p; Murray Internationaltrust, 11.50p; Safestore Holdings, 2.55p; Scapa Group, 2.40p; Schroder Oriental Income Fund Ltd.,1.80p; Stenprop Ltd., 4p; U and I Group, 3.50p. some good news after a difficult year, both in the UK and France where sales have continued to struggle.

“The one bright part has been Screwfix, where sales have been resilient, so investors will be watching to see if growth has continued there.”

B&Q is in the middle of an overhaul being undertaken by boss Veronique Laury.