Interim results from Kingfisher

For the second quarter Kingfisher has announced sales growth of 8.9 per cent to £ 2.33 bn (€ 3.46 bn), or 1.0 per cent like-for-like. Business was still slow in the UK, where sales were 1.3 per cent down on a comparable store basis. In France, by comparison, the group recorded an increase of 1.2 per cent, with a figure of 8.4 per cent in the rest of Europe and 10.4 per cent in Asia. Retail profit was 0.2 per cent up to £ 163.1 mio (€ 242.0 mio).
For the first half-year the group reports sales growth in constant currency of 6.0 per cent to £ 4.35 bn (€ 6.45 bn). However, sales were down by 0.5 per cent in like-for-like terms. Retail profit was 20 per cent down (in constant currency) to £ 231.5 mio (€ 343.5 mio) and pre-tax profit by 12.6 per cent to £ 223.1 mio (€ 331.0 mio). For the first half-year in the UK DIY market Kingfisher reports like-for-like sales down 4.0 per cent. By contrast, there was an increase of 1.4 per cent on a comparable store basis in France, of 9.2 per cent in the rest of Europe and 11.0 per cent in Asia.