Kingfisher still in trouble

Kingfisher today released its results for the trading year ending 3rd February 2007.

Overall retail sales increased 7.4% to £8.68bn, and profit before tax and exceptional items fell to £396.6m from £445.7m last year.

The group stated that the UK market had stabilised itself during the year, with B&Q delivering sales and profit growth in the second half of the year, and making good progress with its development programme.

In Europe and Asia, KIngfisher reported a 30% increase in sales and reported retail profit up 37%.

"In France, Castorama made good progress in developing its stores and ranges and Brico Depot expanded further and strengthened its infrastructure. Elsewhere in Europe and Asia, our international expansion continued with 27 new stores in nine countries, including our first stores in Russia."