Double-digit earnings growth

Kingfisher achieved a 10.1 per cent sales increase (5.8 per cent like-for-like) for a total of £ 1.9 bn (€ 2.85 bn) in the first quarter (to 1 May 2004). During this period, profit went up by 18.0 per cent to £ 145 mio (€ 217.4 mio). B&Q sales in the United Kingdom increased by 5.9 per cent in the first quarter over the same period last year to £ 1.068 bn (€ 1.602 bn), or 1.7 per cent like-for-like. Screwfix Direct increased volume sales by 16.7 per cent to £ 64.2 mio (€ 96.3 mio). Sales in France rose by 11.9 per cent after currency adjustment for a total of £ 603 mio (€ 904 mio). The Castorama stores accounted for £ 389.9 mio of the total (€ 584.6 mio), which amounts to an 8.2 per cent increase over the same period last year (5.6 per cent in like-for-like terms). Brico Dépôt excelled with sales up by 19.2 per cent to £ 213.4 mio (€ 320.0 mio), or 12.9 per cent like-for-like. The group’s international business also recorded strong growth: sales were up by 59 per cent to £ 161.5 mio (€ 242.2 mio), and 28.6 per cent like-for-like. Sales growth of 68.8 per cent was achieved in Poland for a total of £ 80.7 mio (€ 121.0 mio), or 52.7 per cent like-for-like. Sales were up by 26.5 per cent in Italy (0.8 per cent like-for-like) and achieved a level of £ 32.7 mio (€ 49.0 mio) in China, which amounts to 85.8 per cent more (or 20.2 per cent like-for-like) than during the corresponding period last year.