Brico

boss fight DIY-group Kingfisher, which owns B& Q and Screwfix, is profits a step down in the midst of deterioration.

Veronique Laury , the with a turnaround plan, will leave The Company , although no date was given for their departure.

profit fell by 13% over the past year with The Company French chain Castorama, dragging down sales.

announced by The Company , it would close all 19 Screwfix outlets in Germany.

he said that It was considering the closure of 15 stores in the whole group.

Kingfisher, said the woman would remain Laury, at The Company until a successor was found. She has been in The Role since December 2014. Your departure is only five other female Board members in the DAX-100.

Ms Laury ' s turnaround strategy for The Group , called "A Kingfisher", is set to Cost £800m over five years.

It includes the unification of product ranges across brands, the increase in e-commerce and the search for savings.

However, doubts have been expressed about Ms Laury ' s the future to the DIY-group sales continue to flag three years in the new strategy. The Group 's shares, 27% have fallen compared to the previous year.

Ms Laury said: "the transformation has been so exciting But also very challenging.

"the transformation is approaching its last year, I believe that it is right for Someone Else , the next phase of A Kingfisher trip. "

Kingfisher, which also fell sales the Castorama and Brico has the Dépôt chains in France, said that sales of existing surface, known as a like-for-like-1. 6% compared to the previous year, although sales overall were 0. 3% to the top.

But while sales fell, overall, in the case of B& Q 2. 8%, The Group of other UK-based chain, Screwfix, has performed strongly with a 10% increase in sales. While B& Q objectives-home-DIY enthusiast, Screwfix is aimed at commercial customers, such as installers and electricians.

Neil Wilson, an analyst at markets. com, said that, while Screwfix, the success was down to the trade tables, B& write; Q was in front of a Brexit-the impact on consumer confidence, reducing spending for large purchases.

"It's a tough game to be and not to replace, perhaps, with the economic downturn in the secondary housing market, people are, kitchen and bathroom suites, so often," he added.

Julie Palmer, a partner at that was Begbie's Traynor, said: "the contrast between The B& Q's" stack them high " retail policy and Screwfix is one-to-one service with expert advice through the seller inside. This approach seems to have created a very loyal customer base. "

Brico , the positive balance in France and Poland Dépôt Castorama, which continue to underperform was offset by the French chain.

In November, The Company announced it was pulled together from Russia, Spain and Portugal, as part of The Plan to simplify The Business .

Underlying profit sun fell 13% to £693m. But if the costs, including the £111m for store closures that were included were gains of 52. 8% lower than for the year to the end of January.

Kingfisher said it would continue to expand the Screwfix chain, increasing its store target from 700 to over 800 points of sale. The brand will be launched in Ireland this year.

Ms Palmer said the results gave "little hope for investors", point to "turbulent market conditions" and unrest in France.

"The Group is now under increasing pressure to your precious assets, B& Q and Screwfix, have seen the vultures are circling for some time," she added.

Source of news: bbc.com