Sales up, profit down

In the third quarter Kingfisher achieved a sales increase of 6.1 per cent over the same period last year to € 2.068 bn, though that represents a decline of 0.3 per cent in like-for-like terms. Business in the UK was particularly poor, with comparable store sales losses of 6.2 per cent. Profit was down by 49.5 per cent. The third quarter turned out positively in the other countries. In France like-for-like sales were 6 per cent up, with Brico Dépôt accounting for the greater part of the increase (+9.4 per cent). The comparable sales increase in the rest of Europe amounted to 27 per cent. In Asia the group's acquisition of the Obi stores in China ensured sales growth of 48.4 per cent, or 4.7 per cent like-for-like.