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

Kingfisher sees higher H1 profits on lockdown DIY boom

By Frank Prenesti

Date: Wednesday 22 Jul 2020

LONDON (ShareCast) - (Sharecast News) - DIY group Kingfisher said it expected interim pre-tax profits to be higher as strong demand continued across its markets after the lifting of coronavirus lockdowns, but withheld guidance due to continued uncertainty.
The B&Q owner said group second quarter like-for-like sales to July 18 rose 21.6%. For the year to the same date they were down 3.7%.

"Based on the strong sales seen to date in the second quarter, combined with cost reductions benefiting the first half (some of which are non-recurring), the company anticipates its half year adjusted pre-tax profit to be ahead of prior year," Kingfisher said on Wednesday.

"While we are entering the second half with a favourable trading backdrop, second half visibility remains low given uncertainty around Covid-19 and the wider economic outlook. As such, no specific financial guidance is provided for full year 20/21."

Group online sales soared by more than 200% in May and June as people stuck in lockdowns across Europe took to home improvements with sales of garden plants, compost, fence panels, jet washers and painting and decorating products particularly strong. The trend was matched by a similar growth in France, Romania, Spain and Portugal.

Kingfisher said like-for-like sales across the UK and Ireland - where it also owns Screwfix - jumped 25.9% last month, while sales leapt 33% in France, where it trades as Castorama and Brico Depot.

Sales have continued to remain strong in July, with UK and Ireland like-for-like growth of 19.6% in the week to July 18 and group online growth of 183.3%.

AJ Bell investment director Russ Mould said the lockdown home repair trend was "the tailwind Kingfisher has desperately needed to get back on its feet after such a long period of struggling".

"Anyone stuck at home will have been staring at their four walls and perhaps wondering why they've lived with peeling paint, grubby skirting boards and rotting garden sheds for so long," he said..

"Shops like Kingfisher's B&Q have been natural choice for households to go and pick up bits and bobs to make their home look smarter. The large sized stores in Kingfisher's estate will have also made it easier to adhere to social distancing measures, so really DIY companies have been a role model for how retail can work in the new world.

"The big question for Kingfisher is can it sustain the sales growth momentum? As more people return to work and lockdown measures start to ease, consumers' focus could easily shift away from the home and back to the lifestyle they once enjoyed."

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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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