Acquisition ensured hefty increase

The DIY division of the Netherlands trading group, Vendex, raised its sales volume for the recently completed 2003/2004 financial year (to 31 January) by 14.9 per cent to € 1.225 bn. An increase of 2.4 per cent remains if the stores acquired on 1 July from Leroy Merlin in Belgium are subtracted from the total. Without these stores there would have been a 0.8 per cent sales loss in the fourth quarter. The Praxis and Formido stores in the Netherlands have reported sales slightly down, according to information from the group. Brico in Belgium, on the other hand, increased its volume by six per cent. The division expects a slight gain over the previous year in terms of operating profit (€ 78 mio).