Kingfisher (KGF)

Sector:

Retailers

Index:

FTSE 100

278.10p
   
  • Change Today:
    -0.90p
  • 52 Week High: 334.60p
  • 52 Week Low: 203.00p
  • Currency: UK Pounds
  • Shares Issued: 1,940.03m
  • Volume: 4,446,065
  • Market Cap: £5,395m
  • 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.

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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 278.10p
Change Today -0.90p
% Change -0.32 %
52 Week High 334.60p
52 Week Low 203.00p
Volume 4,446,065
Shares Issued 1,940.03m
Market Cap £5,395m
RiskGrade 158

Kingfisher Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
17.57% above the market average17.57% above the market average17.57% above the market average17.57% above the market average17.57% above the market average
20% below the sector average20% below the sector average20% below the sector average20% below the sector average20% below the sector average
Price Trend
32.69% above the market average32.69% above the market average32.69% above the market average32.69% above the market average32.69% above the market average
30.43% above the sector average30.43% above the sector average30.43% above the sector average30.43% above the sector average30.43% above the sector average
Income
67.22% above the market average67.22% above the market average67.22% above the market average67.22% above the market average67.22% above the market average
53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average
Growth
38.60% above the market average38.60% above the market average38.60% above the market average38.60% above the market average38.60% above the market average
4.55% above the sector average4.55% above the sector average4.55% above the sector average4.55% above the sector average4.55% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 10
Sell 5
Strong Sell 2
Total 18
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
  Interim Final
Ex-Div 06-Oct-22 19-May-22
Paid 11-Nov-22 27-Jun-22
Amount 3.80p 8.60p

Trades for 01-Feb-2023

Time Volume / Share Price
16:45 550 @ 279.00p
16:45 550 @ 279.00p
16:35 2,839,376 @ 278.10p
16:35 15,699 @ 278.10p
16:35 1,750 @ 278.10p

Kingfisher Key Personnel

Chair Andrew Cosslett
CEO Thierry Garnier
CFO Bernard Bot

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