Profits up

Kingfisher achieved a 10.8 per cent increase in sales, which totalled £ 10.026 bn for the full 2008/09 year. Growth came to 1.2 per cent in constant currency, though a fall of 4.1 per cent was reported in like-for-like terms. Adjusted pre-tax profits saw an increase of 3.1 per cent to £ 368 mio. While the results for the United Kingdom show sales down by 2.6 per cent (-6.5 per cent like-for-like) to £ 4.28 bn, there was a 3 per cent volume increase in France for a total of £ 3.88 bn. However, comparable sales were 1.3 per cent down. In the other countries abroad where Kingfisher currently operates, the company achieved sales growth of 7.0 per cent to £ 1.86 bn (-3.7 per cent like-for-like). Poland experienced especially strong growth (+19 per cent to £ 1 bn). Results in China, by contrast, were negative: sales fell 24 per cent to £ 431 mio (-27.9 per cent like-for-like). Kingfisher intends to work towards reducing the number of outlets there from 63 to 41, and to revamp the remaining stores.