Acquisitions bring increase

In the first half of the current financial year (to 31 July 2003) the Netherlands Vendex group saw sales in its DIY business increase by 16.5 per cent over the previous year’s figure. The group’s explanation of its growth to € 629 mio focuses not least on the two acquisitions in Belgium, where it took over the Brico chain on 1 April 2002 and added six former Leroy Merlin stores on 1 July 2003. The operating result of € 49.2 mio, or an increase of 3.6 per cent, did not keep pace with the growth of sales.