Turnaround in Britain

Kingfisher achieved a total turnover of £ 2.295 bn (€ 3.371 bn) in the first quarter of 2007. This amounts to growth in constant currency of 14.8 per cent over the same period last year, and of 6.7 per cent like-for-like. Kingfisher also achieved considerable growth in profit, reporting an increase of 29.5 per cent to £ 88.6 mio (€ 130.15 mio). The formerly loss-making B&Q chain in the UK managed a turnaround, realising an 11.9 per cent jump in sales for the first quarter, or 5.9 per cent like-for-like. Business in France flourished as well: the company announced sales growth of 11 per cent here, or 5.1 per cent like-for-like. Kingfisher reports sales for the rest of Europe up by 37 per cent (21.7 per cent like-for-like), driven above all by the extremely positive developments in Poland (+54.4 per cent, or +39.6 per cent like-for-like). Although the company realised 9.2 per cent more in Asia than for the same period last year, sales were actually down by 3.7 per cent in like-for-like terms.