Kingfisher: Weaker sales trend in France
In the last financial year 2016/2017 (31 January), Kingfisher showed growth in total turnover of 8.6% to £11.225bn. Growth was 1.7% after adjustment for currency effects, and 2.3% after adjustment for selling space. This means that the trend in turnover was slightly weaker in the second half of the year than in the first six months, when after adjustment for both currency effects and selling space the increase had been 3.3%. The slowdown in the business trend was partly attributable to increasing difficulties on the French market, where although Kingfisher achieved turnover growth in the last financial year of 12.4% to £4.254bn, there was a decline in terms of selling space of 2.7%.
As at the end of January, Kingfisher was operating a total of 221 sites in France with cumulative sales area of 2.079m m². Of those sites, 102 were accounted for by Castorama and 119 by Brico Dépôt.