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

Homebase put up for sale

By Abigail Townsend

Date: Wednesday 11 Nov 2020

LONDON (ShareCast) - (Sharecast News) - DIY chain Homebase has been put up for sale by its owner Hilco, just two years after the turnaround specialist acquired it for £1.
Hilco agreed to buy Homebase from Wesfarmers in May 2018. The Australian conglomerate had paid £340m for the retailer only 18 months previously, but its strategy of converting stores into its Bunnings format proved unsuccessful.

Earlier this year, Homebase said it had returned to profit ahead of plan, with 2019 earnings before interest, tax, depreciation and amortisation coming in at £3.2m compared to a loss of £114.5m a year previously, and in February the retailer terminated its company voluntary arrangement.

In a statement on Wednesday, Homebase confirmed: "Having built an excellent foundation, Homebase is moving out of its turnaround phase and entering into an exciting new chapter of growth. Now is the right time for us to be starting conversations with potential new owners to accelerate our plan."

The chain is understood to have benefited from a surge of interest in DIY, after the Covid-19 pandemic forced people to spend more time at home.

Damian McGloughlin, chief executive of Homebase, told the Financial Times that people spending time away from the office had helped them "fall back in love with their homes". But he insisted that a transfer of ownership within two to three years was "always part of the plan", and with profitability restored "now was the right time".

McGloughlin told Retail Week that there was "a large number" of interested parties. Information memoranda are expected to be sent out to retailers and private equity firms either this week or the next.

However, chief financial officer Andrew Coleman did not rule out a stock market listing, telling the FT: "It is something that we have looked at. We'll have to see how things play out, but all options are on the table."

Kingfisher, the blue chip owner of rival B&Q, has seen its shares improve by around a quarter this year.

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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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