Plus five per cent

The Netherlands retail group Vendex increased the operating result in its DIY division by around five per cent to € 82 mio in the 2003/2004 financial year (to 31 January 2004). According to information from the company, more than one per cent of this is due to the acquisition of Leroy Merlin in Belgium. Praxis, the large-format marketing line in the Netherlands, recorded a worsening of its result, though the Formido stores delivered much better figures than in the previous year. The Brico outlets in Belgium also generated an improved result. The group’s total number of DIY stores saw an increase of 11 for a total of 315. Because of alterations to the rule book it was necessary to revalue the sales figures, especially in the franchise sector. Having made a € five mio correction, Vendex has now disclosed total sales of € 1.220 bn for this division.