Kingfisher experiences highs and lows

As announced by the British Kingfisher Group, its UK subsidiary B&Q increased sales by 17.0 per cent in the fourth quarter (to 2 February 2002). Growth amounted to 6.3 per cent in comparable terms. The company considers that it has now attained a more normal level after recording two-figure adjusted rates of growth in the preceding quarters. Furthermore, in France the Brico Depôt format outstripped growth in the marketplace with a considerable increase in like-for-like terms. However, there was disappointment over the way business developed at Castorama, the main marketing arm, which recorded a slight reduction in comparable sales. Growth for the group taken as a whole, including all the different divisions, amounted to 9.9 per cent in the fourth quarter – 2.1 per cent like-for-like – and achieved a volume of £ 2.6 bn (€ 4.3 bn). The entire financial year ended with an increase of 11.1 per cent overall, or 4.1 per cent like-for-like.