Synergies resulting from acquisition of Réno-Dépôt

The Canadian market leader Rona increased net sales by 40.6 per cent in the first quarter, recording sales totalling C $ 657.1 mio (€ 397.8 mio). This high rate of growth is a result of the retailer’s acquisition of Réno-Dépôt in August 2003. If the figures for these stores are removed from the calculation, the sales increase amounts to 6.4 per cent. Growth comes to 4.7 per cent in like-for-like terms. In the words of Chief Executive Officer Robert Dutton, the synergistic effects of the acquisition are making themselves felt in the quarterly results. Net profit has almost doubled, increasing by 94.7 per cent to C $ 11.2 mio (€ 6.8 mio).