Profits up at B&Q as DIY gets 'cool again'

DIY store B&Q today posted a remarkable 66 per cent rise in profits during the recession - as its boss declared: "DIY is cool again."

It said the collapse of the housing market had forced people to stay put and improve their homes instead.

And better weather in the early part of the summer also boosted sales of garden equipment and furniture at the stores, including those in Wednesbury and Halesowen.

Shares were up almost two per cent in the store's parent company Kingfisher today after the performance of B&Q led the group's overall half-year profits to rise by 35 per cent.

Pre-tax profits at B&Q rose to £137 million, helping Kingfisher's pre-tax profits to increase to £288 million in the six months to August 1.

Ian Cheshire, chief executive of Kingfisher, said: "The recession is encouraging people to undertake home improvements rather than move - DIY is cool again."

He added that consumers were also opting to travel less and were instead focusing on home-based activities such as growing their own vegetables, a theme which he said had prompted a surge in sales of gardening equipment.

Kitchen, bathroom and bedroom sales were up by around four per cent.