Like-for-like growth for Hornbach

Hornbach has announced further turnover growth and an improved net income situation for the second quarter of the 2005/2006 financial year. In the first half of the financial year, i.e. from 1 March to 31 August, Hornbach Holding AG increased sales by 6.6 per cent to approx. € 1.292 bn. The Hornbach Baumarkt AG sub-group, with 121 DIY and garden stores, increased net turnover by 6.7 per cent to approx. € 1.218 bn. The increase in like-for-like terms amounts to 0.8 per cent; the figure for the second quarter was 2.1 per cent. The DIY stores recorded growth of 8.2 per cent for a turnover of € 600.8 mio in the second quarter. The holding company's EBIT (Earnings Before Interest & Tax) at the end of six months amounted to € 82.1 mio, or 13.5 per cent below the previous year's level. There was a 22 per cent gap between the figure for the first quarter and the previous year's result. The company cited the poor weather conditions in March as the main reason for this disparity. The intention is to increase the total number of DIY stores by eight overall in the course of the current financial year.