Hornbach battling

The Hornbach Group (DIY stores and Baustoff Union) increased sales by 0.8 per cent to € 3.229 bn in fiscal 2012/2013 (1 March 2012 to 28 February 2013). Its operating income (Ebit) of € 145.9 mio was below that of the previous year (€ 169.1 mio). Hornbach released the figures yesterday at its financial statement press briefing in Frankfurt am Main. The chairman of the board, Albrecht Hornbach, regards the accelerated recession, which has been affecting the mood of consumers in large parts of Europe since the summer of 2012, as the main reason for the drop in profits. Hornbach’s DIY store business increased by 0.7 per cent in Germany and by 0.6 per cent abroad. The group’s like-for-like sales declined last year by 1.4 per cent, however (Germany: 0.0 per cent; abroad: -3.2 per cent).