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Kingfisher has announced sales up by eight per cent in the third quarter. Poland is depressing the international business
Kingfisher increased sales by 8.2 per cent to £ 1.94 bn (€ 2.81 bn) in the third quarter ending 30 October. The increase amounts to 9.6 per cent in constant currency. Like-for-like sales were 2.6 per cent up over the same period last year. Retail profit increased by 6.7 per cent to £ 190 mio (€ 275 mio), or 8.5 per cent in constant currency.
In the United Kingdom, business slowed down for the B&Q retail channel. Although sales recorded growth of 5.0 per cent for a total of £ 1.0 bn (€ 1.45 bn), the figure was only 1.3 per cent in like-for-like terms.
Sales rose by 11.5 per cent to £ 671.3 mio (€ 972.4 mio) in France.
Sales in the rest of the world amounted to £ 212.4 mio (€ 307.7 mio), indicating an increase of 36.7 per cent over the same period last year. However, like-for-like sales growth was no more than 0.3 per cent as a result of the poor development in Poland. Here sales were up 5.0 per cent, but down 8.5 per cent like-for-like, which reflects an increase in the VAT rate.
In Italy the group notched up sales of £ 64.4 mio (€ 93.3 mio), which amounts to growth of 44.7 per cent (9.5 per cent like-for-like). Business in China saw growth of 83.4 per cent to £ 57.4 mio (€ 83.1 mio), or 9.5 per cent like-for-like. And the group’s new involvement in Spain brought sales of £ 7.6 mio (€ 11.0 mio).
For the first nine months of the current financial year the company has delivered sales growth of 9.2 per cent to £ 5.89 bn (€ 8.53 bn), up 4.9 per cent in same-store terms. Retail profit has seen a 10.8 per cent increase to £ 545.8 mio (€ 790.6 mio).
In the United Kingdom, business slowed down for the B&Q retail channel. Although sales recorded growth of 5.0 per cent for a total of £ 1.0 bn (€ 1.45 bn), the figure was only 1.3 per cent in like-for-like terms.
Sales rose by 11.5 per cent to £ 671.3 mio (€ 972.4 mio) in France.
Sales in the rest of the world amounted to £ 212.4 mio (€ 307.7 mio), indicating an increase of 36.7 per cent over the same period last year. However, like-for-like sales growth was no more than 0.3 per cent as a result of the poor development in Poland. Here sales were up 5.0 per cent, but down 8.5 per cent like-for-like, which reflects an increase in the VAT rate.
In Italy the group notched up sales of £ 64.4 mio (€ 93.3 mio), which amounts to growth of 44.7 per cent (9.5 per cent like-for-like). Business in China saw growth of 83.4 per cent to £ 57.4 mio (€ 83.1 mio), or 9.5 per cent like-for-like. And the group’s new involvement in Spain brought sales of £ 7.6 mio (€ 11.0 mio).
For the first nine months of the current financial year the company has delivered sales growth of 9.2 per cent to £ 5.89 bn (€ 8.53 bn), up 4.9 per cent in same-store terms. Retail profit has seen a 10.8 per cent increase to £ 545.8 mio (€ 790.6 mio).
