Three year record:
Delivering Value is on track
The seven step programme to improve cash returns, known as 'Delivering Value', is progressing well. The programme was mobilised during 2008/09, commenced in 2009/10 and is due to complete by the end of January 2011/12. The initiatives are supporting the trading performance in the shorter term and also better positioning the Group for its next stage of development. After two full years of the programme Kingfisher is now a significantly stronger, higher returning business.
The financial year 2011/12 will be another busy year as we complete the final milestones for the Delivering Value phase and mobilise the activities that will drive the next phase of our development.
Adjusted pre-tax profit*
Adjusted earnings per share*
Standard return on capital (KPI created in 2008/09)
* For definition see Financial review