B&Q owner creates 1,200 new jobs

15 September 2011 Last updated at 07:26 GMT The group will open another 40 new Screwfix outlets by January The owner of B&Q and Screwfix has announced that it is creating 1,200 jobs across the UK this year.

Kingfisher said that its growing business would take on 230 staff at 29 former Focus DIY stores. One thousand new jobs are also being created at trade tools supplier Screwfix.

The announcement came as Kingfisher reported sharply higher profits.

Pre-tax profits at the group rose 24% to £439m in the six months to the end of July.

Kingfisher said it was investing £130m in the UK this year, four times the previous year.

That includes £20m it is spending refurbishing the Focus DIY stores it bought earlier this year.

Geographic spread

It has already opened 13 new Screwfix outlets this year. It expects to have opened another 40 by January 2012.

"Although the economic outlook is uncertain, this investment demonstrates our confidence in the UK's longer-term growth prospects," said Kingfisher chief executive Ian Cheshire.

Continue reading the main story Shares in Kingfisher jumped 5% at the start of trading on Thursday, as markets responded to the unexpectedly strong profits figure.

The company saw a 6% rise in profits at its UK and Irish Republic business - including a 25% jump at Screwfix - despite a 1% fall in sales in its home market.

Kingfisher's overseas business was even more robust, with profits in France up by a quarter, and Germany, Spain, Turkey and Poland all putting in a strong showing.

"With around two-thirds of our profit coming from outside the UK, these results clearly show the value of geographic spread," said Mr Cheshire.

"Looking ahead, economic uncertainty throughout Europe is likely to impact consumer confidence, meaning conditions will remain challenging for retailers.

"However, our plans already assumed little help from our markets."

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Strong sales at Airbus owner EADS

29 July 2011 Last updated at 06:46 GMT Airbus said there had been strong demand in the commercial aviation sector European aerospace giant EADS has reported first-half sales ahead of expectations, amid strong demand for its Airbus aircraft.

Sales rose 8% to 21.9bn euros ($31.3bn; £19.2bn), while it took orders worth 58.1bn euros in the period.

EADS said orders at the recent Paris Air Show had been "record-breaking".

However, net profit fell 41% on the first half of 2010 to 109m euros after the company faced higher financial charges at the beginning of the year.

And it said the weakening US dollar and British pound were offsetting higher sales.

"Deliveries remained at a high level, with 258 aircraft at Airbus Commercial, 205 helicopters at Eurocopter and the 44th consecutive successful Ariane 5 launch," EADS said.

'Continuing momentum'

Last month, American Airlines placed what it called "the largest aircraft order in history".

It ordered 260 Airbus A320 aircraft, as well as 200 Boeing 737s.

"Our results for the first half of 2011 mirror the strong demand in the commercial aviation sector," said EADS chief executive Louis Gallois.

"In terms of orders, Paris Air Show was record-breaking for us, particularly thanks to the A320neo.

"The recent historic order by American Airlines adds to this remarkable success story as the strong commercial momentum continues beyond Le Bourget."

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