Kingfisher, the biggest home improvement retailer in Europe, is pessimistic about growth in the UK market next year, but is confident of capturing market share from rivals.

Ian Cheshire, Chief executive of the Kingfisher group which runs B&Q in Britain, welcomed cuts in the UK interest rates and sharp fall in oil prices, but believed that their impact on improvements in consumer confidence and spending would take quite long.

Ian added that Kingfisher was not planning any growth in next 12 months since business prospects during this period were very dim due to tough conditions.

The UK’s do-it-yourself market was in bad shape since 2005 and deteriorated sharply in 2008 due to housing market slide and recession fears.

Kingfisher rivals Travis Perkins and Home Retail have hinted that full-year profits were likely to be hit and may touch bottom of analyst’s forecast.

Kingfisher’s UK sales accounted for 47% of £9.36bn last year. It was shielded from loss by growth in Eastern Europe and French business which performed better.

Ian Cheshire claimed that Kingfisher had big opportunity to exploit weakness of UK rivals Floors-2-Go and MFI who had started closing stores. He was expecting more trouble for independent rivals this year, who commanded 25% of tiling and kitchen markets.

Things to consider:
Are you trying to Find A Handyman ?
Buy a wheelie bin online
Get the best deals at The DIY Shop
Plastic
pavimenti in bamboo