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| Wednesday, 23 May, 2001, 09:50 GMT 10:50 UK Kingfisher reports strong first quarter ![]() Superdrug could be spun off from parent Kingfisher Retail giant Kingfisher has reported an 11.3% increase in sales for the first quarter of 2001. The company said the results were broadly in line with expectations.
Like-for-like sales rose 4.9% across the group for the 13 weeks to 5 May, with the DIY division, including B&Q and Castorama, achieving 7.6% like-for-like growth. General merchandise - including toys, sweets and music chain Woolworths, and health and beauty chain Superdrug - achieved 3.6% growth, while electricals, including Britain's Comet and Darty in France, rose 1.6%. Work on the demerger of general merchandise is continuing, the company said, with a final decision on whether to sell or float Woolworths and Superdrug expected by the end of July. Chief executive Sir Geoffrey Mulcahy said: "At the same time we are well advanced with negotiations with the prospective buyers of both the main businesses." |
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