Kingfisher shares were trading 6.52% lower at
The home improvement retailer said in a pre-close update for the second quarter that total group sales rose 0.8% during the period.
Kingfisher said that trading the second quarter was "always expected to be more difficult," and cited a very strong second quarter performance last year and the weather boosted first quarter of this year.
It was disappointed by slower-than expected growth in its French and Polish markets in the second quarter, notably in June, said the company.
Total sales in
The company also confirmed that the binding agreement of its acquisition of home improvement retailer
Subsequently, a mandatory offer will be made to acquire the shares held by the minority shareholders at the agreed price per share of
The remainder of the process is expected to be completed around the end of Kingfisher's 2014/15 financial year, it said.
"Adding a third, complementary strong business alongside Castorama and Brico DÉpÔt will provide us with an attractive growth opportunity in our most important market," said Cheshire.
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