Kingfisher said it remains on track to deliver its full-year guidance after a resilient first quarter, despite softer consumer demand and a delayed start to spring affecting seasonal sales and store footfall.

In its Q1 trading update, the company reported that underlying like-for-like sales declined 0.7% in the three months to 30 April against a strong comparative period, while total sales including marketplace gross merchandise sales rose 0.8%.

The group, which operates more than 1,800 stores across seven European countries under brands including B&Q and Screwfix, said its core product categories remained resilient, supported by strong growth in trade and e-commerce operations.

Trade sales excluding Screwfix increased 17%, taking group trade sales penetration to 31%. E-commerce sales excluding Screwfix rose 14%, with online penetration reaching 22%. Marketplace gross merchandise volume climbed 39% to £163m. The company also opened five new stores during the quarter, including the first standalone TradePoint branch.

In the UK and Ireland, the wider market declined by low single digits during the quarter. B&Q reported total sales including marketplace down 1.3%, with like-for-like sales falling 4.1% due to weaker seasonal demand linked to poor weather conditions.

Chief executive officer, Thierry Garnier, said the business had delivered a solid start to the year, gaining market share in a challenging retail environment.

"We delivered a resilient start to the year, executing well and gaining market share against a soft market backdrop," said Garnier.

"While mindful of the consumer environment, we remain absolutely focused on delivering our strategy, disciplined gross margin and cost management, and consistent shareholder returns. We are confident in achieving our full-year guidance and are well positioned to capitalise on the attractive long-term growth opportunities across our markets."

For the full financial year, Kingfisher reiterated guidance for adjusted pre-tax profit of approximately £565m to £625m and free cash flow of £450m to £510m.

The group expects around 1% sales growth from additional retail space, mainly across Screwfix UK & Ireland, B&Q and Castorama Poland. Net finance costs are expected to rise to around £105m, while capital expenditure is forecast at approximately £400m. The company also confirmed that its ongoing £300m share buyback programme remains in place.

Following the update, shares in Kingfisher increased by over 4%.

Investment director at AJ Bell, Russ Mould, said that investors have reacted with "considerable relief" to the latest update.

He concluded: "Blaming the weather for weak trading is often seen in the ‘dog ate my homework’ category of excuses by the market, but the fact it has not forced any downgrades means Kingfisher has kept investors on side.

"Among the areas of positivity is the continued strong growth in the Screwfix business. Kingfisher, like several of its peers, is pursuing trade customers who are often more reliable and consistent sources of revenue than ordinary consumers. That’s because materials and tools are not a nice-to-have for them but essential to their day job.

"This strategy is paying off in spades as the company makes market share gains. These sales could become increasingly important as pressures on consumer spending build, although as well as putting people off DIY projects, the do-it-for-me work on which its trade buyers rely may also suffer against a difficult backdrop."

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