Drop in profits at Rona

In the first quarter of 2007 Rona achieved sales of Can $ 878.5 mio (€ 586.1 mio) in the wholesale and retail segments, equivalent to growth of 10 per cent compared with the same period in the previous year and of 0.1 per cent in comparable store sales. Operating income decreased by 4.1 per cent to Can $ 40.9 mio (€ 27.3 mio), which the company attributed primarily to results from its own stores and franchise locations. Net profits were down 54.8 per cent to Can $ 9 mio (€ 6 mio).