Kingfisher grows in currency adjusted terms

Kingfisher achieved sales of GBP 5.382 bn in the first half of the financial year 2015/2016 (end: 1 August 2015). That’s a total of 4.0 per cent less than in the same period last year. However, taking constant currency exchange rates into account, it was 3.5 per cent more. Also on a like-for-like basis, this represents an increase of 2.0 per cent.
In the domestic market in Great Britain and Ireland, the currency adjusted sales rose by 4.6 per cent and like-for-like by 3.3 per cent to GBP 2.527 bn. While the main sales division B&Q only grew by 0.2 per cent to GBP 2.033 bn, the high overall growth comes from Screwfix sales division, which increased by 27.9 per cent (like-for-like 16.5 per cent).
Against this background, the British group is focusing on a further massive expansion for Screwfix: In this fiscal year, 60 new stores are to be added to the existing 412 stores. An overall potential of around 600 stores is seen for Great Britain. By contrast, the number of B&Q stores is planned to be reduced by 60. That represents around 15 per cent of the current sales area.
The currency adjusted sales figures for France rose to GBP 1.976 bn but declined in nominal terms by 10.4 per cent and like-for-like by 0.3 per cent. Two Castorama stores were closed.
The figures for the other countries:
Poland: GBP 508 mio., currency adjusted +2.3 per cent, like-for-like +3.4 per cent.
Russia: GBP 175 mio., +21.6 per cent, +15.3 per cent. One store was closed.
Turkey (Joint Venture with Koçtaş): GBP 149 mio., +11.6 per cent, +7.0 per cent.
Spain: GBP 144 mio., -4.6 per cent, -6.2 per cent.
Romania, Portugal, Germany: GBP 52 mio.