Kingfisher (KGF)

Sector:

Retailers

Index:

FTSE 100

249.40p
   
  • Change Today:
      3.40p
  • 52 Week High: 262.60
  • 52 Week Low: 201.20
  • Currency: UK Pounds
  • Shares Issued: 1,874.40m
  • Volume: 5,642,429
  • Market Cap: £4,674.76m
  • RiskGrade: 158

Brexit worries, France hit Kingfisher interims

By Frank Prenesti

Date: Wednesday 18 Sep 2019

LONDON (ShareCast) - (Sharecast News) - Half year profits at DIY retailer Kingfisher fell on Brexit worries and the move to a low-price strategy at its French Castorama business as the company warned of a "mixed" full-year outlook.
Like-for-like sales fell 1.8% to £5.9bn with growth in Screwfix, Poland and Romania offset by B&Q in the and France as pre-tax profits came in 12.5% lower at £245m as the company continued its turnaround plan under outgoing chief executive Veronique Laury, who will hands over to Carrefour veteran Thierry Garnier on September 25.

Underlying pre-tax profit fell to £353m in the six months to July 31, down from £377m year on year.

The group said the sales performance of B&Q in the UK and Castorama was "disappointing", with a weak consumer backdrop in Britain and disruption caused by new range implementation at B&Q, and transformation-related issues at Castorama France..

"The overall change programme at Castorama France is causing issues in our stock planning, stock management and logistics processes which, in turn, is leading to lower than expected stock availability and fulfilment rates," Kingfisher said on Wednesday.

The company cited "ongoing challenges with vendor management, product data and changes to store operations" as it moved to a new IT system for the problems, adding that moves were underway in the second half to make improvements.

In the UK and Ireland, like-for-like B&Q sales fell 3.2% over the first half, although this was offset by 5.1% growth at its Screwfix unit.

Overall UK and Ireland comparable store sales were 0.7% lower, while retail profit for the division was 1.7% lower at £277m.

The company said it had updated how it imports goods to prepare for possible disruption at ports in a no-deal Brexit, but had enough stock in place and no further significant stockpiling was necessary at this stage.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Kingfisher Market Data

Currency UK Pounds
Share Price 249.40p
Change Today 3.40p
% Change 1.38 %
52 Week High 262.60
52 Week Low 201.20
Volume 5,642,429
Shares Issued 1,874.40m
Market Cap £4,674.76m
RiskGrade 158

Kingfisher Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
92.33% above the market average92.33% above the market average92.33% above the market average92.33% above the market average92.33% above the market average
94.74% above the sector average94.74% above the sector average94.74% above the sector average94.74% above the sector average94.74% above the sector average
Price Trend
31.31% above the market average31.31% above the market average31.31% above the market average31.31% above the market average31.31% above the market average
41.46% above the sector average41.46% above the sector average41.46% above the sector average41.46% above the sector average41.46% above the sector average
Income
72.51% above the market average72.51% above the market average72.51% above the market average72.51% above the market average72.51% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Growth
93.91% below the market average93.91% below the market average93.91% below the market average93.91% below the market average93.91% below the market average
70% below the sector average70% below the sector average70% below the sector average70% below the sector average70% below the sector average

What The Brokers Say

Strong Buy 2
Buy 1
Neutral 7
Sell 5
Strong Sell 1
Total 16
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Kingfisher Dividends

  Latest Previous
  Final Interim
Ex-Div 16-May-24 12-Oct-23
Paid 25-Jun-24 17-Nov-23
Amount 8.60p 3.80p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 3,514,010 @ 249.40p
16:35 1,110 @ 249.40p
16:35 38,559 @ 249.40p
16:35 24,732 @ 249.40p
16:35 3,376 @ 249.40p

Kingfisher Key Personnel

Chair Andrew Cosslett
CEO Thierry Garnier
CFO Bernard Bot

Top of Page