Negative figures

Kingfisher, the biggest DIY retailer in Europe, reports a 1.1 per cent year-on-year increase of total sales in constant currency to £ 2.490 bn (€ 3.220 bn) for the first quarter of 2008, but that figure slumps to -4.1 per cent in like-for-like terms. Profits were 2.87 per cent down in constant currency to £ 96 mio (€ 124 mio). The heaviest losses were felt in the United Kingdom. Here sales were 3.0 per cent down (7.9 per cent like-for-like) to £ 1.131 bn (€ 1.293 bn), and profits declined by 8.5 per cent to £ 33 mio (€ 43 mio). Sales in France came to £ 897 mio (€ 1.160 bn), or 2.7 per cent more than in the comparable period last year, though like-for-like sales were 1.5 per cent down. Profits declined by 4.2 per cent to £ 43 mio (€ 56 mio). The other overseas markets – Poland, Russia, Italy, China, Turkey (joint venture) and Germany (stake in Hornbach) – progressed positively overall. Sales saw an increase of 9.2 per cent to £ 462 mio (€ 598 mio), and like-for-like growth came to 1.2 per cent. There was also an 11.8 per cent increase in profit to £ 20 mio (€ 26 mio).