Kingfisher on track for growth again

Kingfisher saw sales growth of 5.2 per cent to GBP 11.125 bn in the 2013/2014 financial year (to 1 February 2014), and of 0.7 per cent in like-for-like and constant currency terms. Trading profit rose by 3.5 per cent to GBP 805 mio. In France the British group recorded sales of GBP 4.423 bn, an increase of 5.5 per cent; the like-for-like result was 1.2 per cent less. The Castorama format with a plus of 2.3 per cent made better progress than Brico Dépôt with plus 1.0 per cent. Sales in Great Britain and Ireland grew by one per cent to GBP 4.363 bn and were 1.1 per cent up like-for-like. Growth was for the most part down to the Screwfix line, which saw expansion of 17.6 per cent. In comparison B&Q, the main channel of distribution, grew by no more than 0.4 per cent. The other national companies also report positive year-end results. The Polish stores announced sales of GBP 1.109 bn, or an increase of 3.9 per cent. Sales in Russia went up by 9.2 per cent for a total of GBP 453 mio. In Spain the 16.4 per cent increase to GBP 284 mio is the result of four new openings. The former Bricostore outlets in Romania made a contribution of GBP 72 mio, while there was a plus of 8.0 per cent in China for a total of GBP 421 mio.