Q1 Trading Update

Kingfisher PLC
31 May 2007

EMBARGOED UNTIL 0700 HOURS
Thursday 31 May 2007







                                 Kingfisher plc
              Q1 trading update for the 13 weeks ended 5 May 2007







Group Financial Summary


                           Retail        % Total         % Total        % LFL       Retail       % Total        % Total
                        Sales (1)                                               Profit (2)
                          2007/08         Change          Change       Change      2007/08        Change         Change
                                                                                              (Reported)
                               £m     (Reported)       (Constant                      £m                      (Constant
                                                       currency)                                              currency)
UK                          1,166          13.3%           13.3%         5.5%         35.4         61.6%          61.6%
France                        765           9.1%           11.0%         5.1%         39.7        (1.2)%           0.5%
Rest of Europe (3)            278          34.8%           37.0%        21.7%         21.8         55.7%          55.7%
Asia (4)                       85           1.2%            9.2%       (3.7)%        (8.3)        (7.8)%        (15.3)%
Total                       2,294          13.5%           14.8%         6.7%         88.6         29.5%          29.9%



(1)     Joint Venture (JV) and Associate sales are not consolidated.

(2)     Retail profit is stated before central costs, exceptional items,
acquisition intangibles amortisation and share of joint venture and associate
interest and tax.

(3)     Rest of Europe includes Poland, Italy, Spain, Ireland, Russia, Turkey JV
and Hornbach in Germany.

(4)     Asia includes China, South Korea and Taiwan JV.



•              Group sales up 14.8% (LFL+6.7%), retail profit up 29.9%
benefiting from favourable spring weather across Europe;

•              B&Q UK sales up 11.9% (LFL +5.9%) reflecting strong sales of
outdoor products and kitchens;

•              French sales up 11.0% (LFL +5.1%), with outdoor and decorative
products performing well;

•              Rest of Europe sales up 37.0% (LFL+21.7%), boosted by a strong
performance in Poland;

•              Asia sales up 9.2% (LFL -3.7%) but adversely impacted by the
timing of promotions and national holidays;

•              Net debt at 5 May 2007 of £1.2 billion (3 February 2007: £1.3
billion);

•              Net assets at 5 May 2007 of £4.5 billion (3 February 2007: £4.4
billion).





Gerry Murphy, Group Chief Executive, said:



'Kingfisher delivered strong sales and profit growth in the first quarter as
good weather across Europe drove early seasonal demand for gardening and outdoor
products.  The year has started well, although it is still early days with the
summer outdoor season still to come.



'Whilst the outlook for our international markets is generally positive, and we
are pleased with progress on B&Q's development plan, we remain cautious on the
UK market with demand for bigger home improvement projects likely to be
sensitive to interest rates.'




UK



For the 13 weeks ended 5 May 2007*


                             Retail Sales £m             % Total          % LFL     Retail Profit £m            % Total
                                                          Change         Change                                  Change

                          2007/08      2006/07                                    2007/08      2006/07
UK                           1,166.3      1,029.2          13.3%           5.5%         35.4         21.9         61.6%



UK includes B&Q in the UK, Screwfix Direct and Trade Depot.



* Due to the 53rd week in UK reporting for 2006/07, changes in reported sales
and profit compare 13 weeks ended 5 May 2007 with 13 weeks ended 29 April 2006
as reported in 2006/07.  On the same calendar basis, LFL was 9.8%.

However, for better alignment, the actual reported change in LFL sales compares
13 weeks ended 5 May 2007 to 13 weeks ended 6 May 2006.



B&Q total sales increased 11.9% to £1,058 million (+5.9% LFL), with favourable
weather stimulating early seasonal demand for gardening and outdoor products,
sales of which grew over 20% year on year.  Kitchen sales (*) were also ahead,
reflecting orders taken during the major promotional event at the end of the
previous quarter.



Gross margin percentage was flat, reflecting stronger sales of lower margin
outdoor seasonal products and kitchens sold on promotion.



Retail profit increased by 82.2% to £32.8 million (2006/07: £18.0 million).
Total cost growth for the full year remains in line with expectations.



Results from the new format large stores continue to be encouraging with 20 now
trading. Eight revamps were completed in Q1, and the next phase of eight revamps
will start at the end of Q2.  In addition, seven medium stores were revamped,
two new medium stores were opened and two large stores were downsized. B&Q now
has 114 large stores (20 in the modern format), 211 medium stores (of which 128
have been modernised).



* Kitchen sales are only recognised when delivered and not when originally
ordered.



UK TRADE



Screwfix sales grew 25.9% to £103 million, driven by the Trade Counter roll-out
programme.  Retail profit decreased slightly, reflecting start-up costs for a
second distribution centre, which is due to open during the summer, and Trade
Counter pre-opening costs.  Fifteen new Trade Counters were opened in Q1,
compared to six in the same quarter last year.  Trials of the new Trade Depot
format continued with the opening of two new stores, taking the total trading to
six.


FRANCE



For the 13 weeks ended 5 May 2007


Retail sales £m                            2007/08         2006/07           % Change           % Change          % LFL
                                                                           (Reported)         (Constant)         Change
France                                       764.6           700.9               9.1%              11.0%           5.1%


Retail profit £m                           2007/08         2006/07           % Change           % Change
                                                                           (Reported)         (Constant)
France                                        39.7            40.2             (1.2)%               0.5%



2007/08 £1 =1.4775 euro; 2006/07 £1 = 1.4525 euro

All percentage movements below are in constant currencies.



Total sales grew 11.0% to £765 million (+5.1% LFL) with sales of gardening,
outdoor projects and decorative products performing well. In a price competitive
market, retail profit of £39.7 million was in line with last year after £9
million of additional pre-opening and disruption costs.



Castorama sales grew by 7.3% to £418 million (+4.8% LFL, +8.5% on a comparable
store basis).  Decorative, garden and outdoor products performed well, boosted
by new catalogues, new products and favourable weather. Heating sales at the
start of the quarter were weak in the mild conditions.  Four Castorama revamps
were completed during Q1 with a further two planned in the balance of the year.
Stores trading in the new format continue to outperform.



Brico Depot sales grew 15.7% to £347 million (+5.5% LFL), supported by nine more
stores compared with Q1 last year and the publication of an additional
catalogue.  Three new stores opened during Q1 and work continued on converting
the three Castorama stores closed during the fourth quarter last year in
preparation for their opening in the Brico Depot format.  The new SAP
information technology platform is now fully operational.


REST OF EUROPE


Retail sales £m                         2007/08         2006/07             % Change            % Change          % LFL
                                                                          (Reported)          (Constant)         Change
Rest of Europe                            277.5           205.9                34.8%               37.0%          21.7%


Retail profit £m                        2007/08         2006/07            % Change            % Change
                                                                         (Reported)          (Constant)
Rest of Europe                             21.8            14.0               55.7%               55.7%



Rest of Europe includes Poland, Italy, Spain, Ireland, Russia, Turkey JV and
Hornbach in Germany.

Joint Venture and Associate sales are not consolidated.

All percentage movements below are in constant currencies.



Rest of Europe sales increased 37.0% to £278 million (+21.7% LFL) with 14 more
stores trading compared to the same quarter last year.  Retail profit grew 55.7%
to £21.8 million, largely driven by strong sales in Poland.



Sales for Castorama and Brico Depot in Poland were up 54.5% to £147 million
(+39.6% LFL), with milder weather boosting an already buoyant construction
market.  Castorama Italy sales increased 6.0% to £75 million (4.3% LFL) in an
Italian retail market that continues to be generally weak.



Trading at Brico Depot Spain and Castorama Russia was encouraging and Koctas in
Turkey, a 50% joint venture, continued to perform well.  The contribution from
Kingfisher's 21% interest in Hornbach was in line with last year.



During the first quarter, one store opened in Poland and in Turkey.



ASIA


Retail sales £m                         2007/08         2006/07             % Change            % Change          % LFL
                                                                          (Reported)          (Constant)         Change
Asia                                       85.1            84.1                 1.2%                9.2%         (3.7)%


Retail profit £m                        2007/08         2006/07            % Change            % Change
                                                                         (Reported)          (Constant)
Asia                                      (8.3)           (7.7)              (7.8)%             (15.3)%



Asia includes China, South Korea and Taiwan JV (sales not consolidated).

All percentage movements below are in constant currencies.



In Asia, the first quarter traditionally has the lowest sales in the year, with
trading affected by the variable timing of Chinese New Year and public holidays.
In 2007, the traditionally busy weeks after the New Year holidays fell mainly in
Q2 (Q1 in 2006).  Total sales grew 9.2% (LFL down 3.7%) to £85 million with
losses slightly higher than last year at £8.3 million.



B&Q China sales grew 7.0% (LFL down 4.0%), benefiting from nine more stores
trading compared to the same quarter last year but impacted by holiday timings.
Last year's strong LFL growth of 12% was boosted by discount activity on
kitchen appliances and buying ahead of a tax change on flooring products,
neither of which were repeated in 2007.  Trading into Q2 is in line with
expectations.

B&Q Taiwan, a 50% joint venture, delivered a small profit in a market that
continues to be affected by weak consumer confidence.  In South Korea, whilst
the two trial stores were making progress, opening sufficient stores to achieve
economic scale in a reasonable timeframe appeared unlikely.  Accordingly, the
business, which has net assets of £8m, will close.



Enquiries:


Ian Harding, Group Communications Director                                           020 7644 1029

Nigel Cope, Head of Communications                                                   020 7644 1030

Sarah Gerrand, Head of Investor Relations                                            020 7644 1032



Further copies of this announcement can be downloaded from www.kingfisher.com or
by application to: The Company Secretary, Kingfisher plc, 3 Sheldon Square,
London, W2 6PX.



Company Profile



Kingfisher plc is Europe's leading home improvement retail group and the third
largest in the world, with over 740 stores in 11 countries in Europe and Asia.
Its main retail brands are B&Q, Castorama, Brico Depot and Screwfix Direct.
Kingfisher also has a 21% interest in, and strategic alliance with, Hornbach,
Germany's leading DIY Warehouse retailer, with over 120 stores in Germany and
seven neighbouring countries.





DATA BY COUNTRY as at 5 May 2007


                                                      Store numbers                Selling space              Employees
                                                                                    (000s sq.m.)                  (FTE)
B&Q                                                             325                        2,330                 27,005
UK Trade                                                         59                           24                  2,470
Total UK                                                        384                        2,354                 29,475
Castorama                                                        98                          972                 12,747
Brico Depot                                                      84                          448                  5,515
Total France                                                    182                        1,420                 18,262
Poland                                                           36                          299                  6,547
Italy                                                            27                          171                  2,126
Ireland                                                           7                           46                    532
Spain                                                            10                           51                    566
Russia                                                            3                           27                    986
Turkey JV                                                        11                           61                  1,196
Total Rest of Europe                                             94                          655                 11,953
China                                                            58                          553                 10,366
Taiwan JV                                                        21                           97                  1,833
South Korea                                                       2                           12                    181
Total Asia                                                       81                          662                 12,380
Total                                                           741                        5,091                 72,070




                      This information is provided by RNS
            The company news service from the London Stock Exchange