Kingfisher (KGF)

Sector:

Retailers

Index:

FTSE 100

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

Kingfisher scraps dividend but flags positive trading

By Sean Farrell

Date: Monday 23 Mar 2020

LONDON (ShareCast) - (Sharecast News) - Kingfisher scrapped its final dividend in response to the Covid-19 crisis but said trading had shown positive trends in the current financial year.
The owner of B&Q and Screwfix said it cancelled the dividend due to "unprecedented" uncertainty caused by the coronavirus outbreak. Kingfisher joins a series of companies hanging on to cash to shore up finances instead of paying out to shareholders.

The DIY retailer was due to report annual results on 24 March but has delayed the announcement under orders from the Financial Conduct Authority because of the coronavirus crisis. It said like-for-like sales fell 1.5% in the year to the end of January but that they turned positive in the final quarter, rising 1.7%.

Trading continued to improve from 1 February to 14 March. In February like-for-like sales rose 2.3% excluding the effect of the leap year. In the first two weeks of March sales rose across all businesses. In the third week of March the UK remained positive but France was affected by store closures and demand was weak in Poland.

Kingfisher shares rose 5.6% to 133.15p at 10:21 GMT.

The company said its stores in France and Spain had closed for two weeks to comply with government requests but that its UK and Ireland outlets remained open as well as those in Russia and eastern Europe. It is restricting the number of people in stores and carrying out strict "social distancing" rules.

At the end of January Kingfisher had cash and equivalents of £195m and borrowings of £158m. Including lease liabilities its total net debt was £2.53m.

In China nearly all suppliers' factories have reopened and more than 85% of orders have less than a four-week delay. In Europe, Italian factories have closed or are expected to do so and there are doubts about transportation of goods across the continent. Kingfisher said risk to product availability was manageable.

Chief Executive Thierry Garnier has been trying to revive Kingfisher's sales since arriving in September. His measures have included reintroducing trading events and cutting prices at Screwfix.

Garnier said: "These are unprecedented times. We'll get through them and, when we do, we are as a team committed to returning Kingfisher to growth."





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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 334.60
52 Week Low 203.00
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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