Down in France, up in the UK

Britain’s Kingfisher Group recorded sales amounting to GBP 10.966 bn in fiscal 2014/2015 (ended 31 January 2015), equivalent to a decline of 1.4 per cent from the previous year. At constant currency translation rates the group’s sales increased by 2.9 per cent and on a like-for-like basis by 0.5 per cent.
In France, Kingfisher’s biggest market, currency-adjusted sales fell by 1.0 per cent to GBP 4.132 bn (-6.6 per cent overall, -2.3 per cent on a like-for-like basis). After adjusting for currency effects, the Castorama distribution channel’s sales were down by 1.7 per cent to GBP 2.291 bn and those of Brico Dépôt down by 0.1 per cent compared with the previous year.
In Great Britain and Ireland, the group’s sales grew by 5.4 per cent (adjusted for currency effects by 5.5 per cent, like-for-like sales by 3.2 per cent) to GBP 4.600 bn. The increase is due to a large extent to the performance of omnichannel distribution line Screwfix, which grew by 25.5 per cent (13.4 per cent on a like-for-like basis) to GBP 835 mio and opened 60 new stores in fiscal 2014/2015. By contrast, the B&Q DIY chain only grew by 1.9 per cent (like-for-like growth 1.4 per cent).
Kingfisher’s Polish stores grew by 0.7 per cent after adjusting for currency effects (like-for-like: 0.4 per cent) to a sales volume of GBP 1.055 bn. Sales by the Russian Castorama stores came to GBP 408 mio, an increase of 19.0 per cent (14.9 per cent on a like-for-like basis). Devaluation of the rouble had a huge effect on profits here, which fell by 14.6 per cent to GBP 10 mio.
Sales deriving from the Turkish joint venture with Koçtaş improved by 13.1 per cent (like-for-like: 4.2 per cent) to GBP 319 mio, while sales in Spain increased by 14.2 per cent to GBP 306 mio, although like-for-like sales declined by 5.5 per cent.
The provisional financial statement shows sales of GBP 91 mio for the 15 Bricostore outlets in Romania acquired in 2013, 14 of which have now been switched to Brico Dépôt, and of GBP 12 mio for the first two Portuguese Brico Dépôt stores. The Chinese B&Q stores accounted for GBP 361 mio, thus showing a decline of 9.8 per cent (like-for-like: -9.7 per cent).