B&Q owner sees weaker UK demand

See Kingfisher's share price

Kingfisher, the owner of B&Q, said UK consumer demand was likely to weaken in the coming months as it unveiled a slide in quarterly earnings.

UK pre-tax profits fell 11.9% to £45.3m as flagging demand for DIY products - hit by a home improvements slowdown - dragged like-for-like sales lower.

Efforts to revamp stores and ranges of products were going well it added, but said no immediate pickup was expected.

Overall group profit fell 1.9% to £171.7m in three months to 3 November.

The firm, Europe's largest home improvement retailer, cited success in Poland and also France for a 1.9% rise in overall like-for-like sales to £2.4bn.

"Our international businesses which account for more than half of Kingfisher's sales, again delivered positive sales and profit growth," chairman Peter Jackson said.

"In the UK, where consumer demand is widely anticipated to soften further over the coming months, B&Q's renewal is progressing well.

"The new ranges and revamped stores showing that a compelling offer in the right store environment will continue to attract customers."