B&Q: Like-for-like growth of almost eleven per cent

Last year Kingfisher’s DIY business achieved overall sales of £ 5.834 bn (€ 9.433 bn), amounting to 14.5 per cent more than the previous year. Retail profit grew by 8.1 per cent to £ 431 mio (€ 697 mio). B&Q, the UK retail format, together with the catalogue and internet business Screwfix to a lesser degree, contributed £ 3.215 bn (€ 5.197 bn) to the sales figure, which means they exceeded the 2000 performance target by 16.2 per cent. Like-for-like growth also reached double figures of 10.8 per cent. The Warehouse format with like-for-like sales of 11.5 per cent finished ahead of the Supercentres, where growth of 8.1 per cent was achieved.
“Disappointing” for the group in comparison is the like-for-like growth of 0.5 per cent recorded by the French Castorama stores. Overall sales of this retail format were 0.3 per cent down on the previous year (calculated in euros). One reason for this dip is the transfer of seven outlets to Brico Dépôt. This line increased like-for-like sales by 9.2 per cent. The Kingfisher group’s DIY stores in France generated overall sales of £ 1.834 bn (€ 2.966 bn).  This corresponds to growth of 7.4  per cent in pounds sterling and 5.7 per cent in euro terms. Like-for-like sales growth amounted to 3.4 per cent. 
In the other countries where the group is involved DIY sales rose by 26.9 per cent to £ 786 mio (€ 1.272 bn), of which one per cent was like-for-like. Particularly strong growth was notched up by the stores in Poland, Italy and China. The company attributes the fact that profit from its international business declined by 45.5 per cent to 10.3 per cent to the costs of expansion in new markets.
Sales 2002 (£ mio)
Change over 2000 (%)
UK
3,214.6
16.2
France
1,833.5
7.4
Other
785.8
26.9
Total
5,833.9
14.5