Kingfisher increases like-for-like

The British Kingfisher Group closed the first quarter (end: 2 May 2015) of the current financial year with a nominal fall in revenue of 4.6 per cent; on a constant currency exchange rate basis this would have been an increase of 2.7 per cent, like-for like 0.8 per cent. The total revenue volume amounted to GBP 2.590 bn.
In France the revenue rose by 0.4 per cent currency adjusted, but on a like-for-like basis it fell by 1.2 per cent (nominal -11.5 per cent, GBP 953 mio). The B&Q stores in Great Britain and Ireland made GBP 991 mio and thereby turned over 1.7 per cent less than in the same period last year and like-for-like 1.1 per cent less. There is a takeover agreement in place with other retailers for 14 of the approximate 60 stores that are due to close down.
In contrast, Screwfix opened up its 400th store in May. The turnover of this sales line shot up by 26.8 per cent (like-for-like 15.4 per cent) to GBP 244 mio.
In Poland there was only an increase on a like-for-like basis of 0.4 per cent. The turnover of GBP 233 mio was 0.1 per cent under the benchmark value with constant currency exchange rates. Kingfisher announced an increase of 38.9 per cent in Russia, after currency adjustments and like-for-like 31.1 per cent with a turnover of GBP 76 mio. In Spain the like-for-like turnover fell by 7.1 per cent. The recent involvement in Romania and Germany together have a total volume of GBP 25 mio with a currency adjusted growth rate of 69.7 per cent.