Positive Third Quarter Results for Screwfix

Third quarter results for Screwfix showed sales growth of 28.1% to £117.1 million in the 13 weeks ending 3rd November, 2007. The company, which had a 2006/2007 turnover of over £300m, has continued its Trade Counter initiative with an additional 12 outlets being opened during the quarter, bringing the total to 80* across the UK.

John Colley, Commercial Director at Screwfix, comments ‘Whilst our results are good, there is no doubt that the market is getting tougher and we are having to focus our attention even more on providing high quality, low cost items to our customers right when they want them. This means adding more exclusive products, offering more low prices and introducing more leading brand names to our product portfolio and, of course, ensuring a fast, reliable service across each of our multi-channel supply lines.’

As the UK's largest direct and online supplier of trade tools, accessories and hardware products, Screwfix despatches thousands of parcels every week for next day and weekend delivery to tradesmen, handymen and serious DIY enthusiasts all over the UK. The company also operates a growing number of Trade Counters across the UK (85* as at 14th December, 2007), each offering thousands of items in stock, available for immediate collection. (Full address details can be found at http://www.screwfix.com/tradecounters).

‘Exclusive to Screwfix and designed and manufactured by Makita, the new SITE range is typical of the innovative approach that Screwfix takes when searching for that all important competitive edge,’ says John Colley, ‘By working closely with Makita, we have been able to obtain exclusivity on a range of power tools that combines exceptional performance with all the features and support associated with a world leading manufacturer. Believed to be a world first, our partnership with Makita brings outstanding benefits to our customers in that they obtain tools with the ease of use, robustness, precision and reliability that trade professionals demand, but without a hefty price tag.’

In addition to more new products and more new brands, the company has cut over 1,000 prices in its latest catalogue (issue 89) which is now packed with around 17,000 building, maintenance and home improvement items.

Screwfix is also continuing to improve its website with faster, easier access to products via improved search capabilities. More trade links have also been added and the site is regularly updated with sales items, bulk deals, top searches and a ‘what's hot’ section.

The Trade Counter initiative is set to continue throughout the UK with a further 14 branches due to be opened in the fourth quarter. Each of these will be fully supported by a second distribution centre in Stafford, which will be fully operational by the end of the year.

Full financial results can be found at http://www.kingfisher.com.

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