B&Q UK sales down, Kingfisher up

B&Q sales in the UK and Ireland were down 0.9% (-1.8% LFL) at £3.8bn in

2011/12, Kingfisher announced on March 22. Retail profit rose 10.9% at £238m, and TradePoint grew to 800,000 registered customers.

Screwfix continued to grow, with sales up 8.2% (1.9% LFL) at £518m, and retail profit up 16.2% at £33m. Total UK and Ireland sales rose 0.1% (-1.4% LFL) at £4.3bn, with retail profit up 11.6% at £271m.

Worldwide, Kingfisher sales rose 3.6% (1.3% LFL) to £10.831m, with retail profit up 15.7% to £882m and pre-tax profit up 20.4% to £807m. France did well, with 3.7% LFL sales growth, and retail profit up 20% at £423m, and there was profit growth in Poland, Turkey, Germany and Russia as well. In China, losses were reduced from £63m to £3m.

During the four years of the 'Delivering Value' programme, now completed, the company's stock market valuation more than doubled, from £3.4bn to £7.2bn. Kingfisher has now revealed the eight key points of its new 'Creating the Leader' programme: making it easier for customers to improve their homes; giving customers more ways to shop; building innovative common brands; driving efficiency and effectiveness everywhere; growing the Kingfisher presence in existing markets; expanding in new and developing markets; developing leaders and connecting people; and becoming 'net positive' on sustainability.

"The Creating the Leader programme will see us emerge as a world-class retailer, helping customers have better, more sustainable homes," said group chief executive Ian Cheshire.

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Reply to
The Medway Handyman
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Yes the amount i was rushed for some vaneered chipboard I'm not surprised. Is it me or are some of these shops profiteering on things that never used to cost much?

Brian

Reply to
Brian Gaff

I'm not an accountant but getting 800+ million profit from 10 million sales seems quite a neat trick. Should that dot be a comma?

Reply to
Dave Liquorice

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