Increase only in growth markets

The British Kingfisher Group achieved a sales increase of 0.8 per cent at constant exchange rates in the third quarter (to 27 October 2012) of its current financial year. However, sales decreased by 3.9 per cent in absolute terms and by 2.8 per cent like-for-like to £ 2.705 bn.Growth came primarily from Russia, where the Castorama sales format reported sales of £ 126 mio, which is 40.4 per cent up on the same period last year. In like-for-like terms, too, there was an increase of 21.3 per cent. Even from China the group announces an increase of 2.6 per cent, or 3.5 per cent like-for-like, for a total of £ 96 mio. The news from Spain is similar, with sales up by 5.2 per cent to £ 59 mio, though down by 8.5 per cent like-for-like. In Turkey, too, sales of the Koçtas joint venture rose by 4.0 per cent altogether, but fell by the same amount like-for-like.By contrast, sales in the company’s core markets were on the decline. In France, where the group operates with the Castorama and Brico Dépôt chains, sales decreased by 9.3 per cent, or 0.8 per cent in constant currency, to £ 1.081 bn. The B&Q chain in Britain and Ireland reported sales of £ 1.055 bn, or 0.8 per cent down (0.7 per cent in constant currency) on the comparable period last year. A sales fall of 1.9 per cent (7.3 per cent like-for-like) to £ 288 mio is reported from Poland.