Kingfisher (KGF)

Sector:

Retailers

Index:

FTSE 100

241.40p
   
  • Change Today:
      2.10p
  • 52 Week High: 356.00p
  • 52 Week Low: 203.00p
  • Currency: UK Pounds
  • Shares Issued: 1,950.46m
  • Volume: 805,245
  • Market Cap: £4,708.42m
  • RiskGrade: 158

Kingfisher Q1 sales down as annual profits rise 33%

By Frank Prenesti

Date: Tuesday 22 Mar 2022

LONDON (ShareCast) - (Sharecast News) - B&Q owner Kingfisher said current-year first-quarter sales were down 8.1% as it reported 2021/22 profits up by a third, and said it was "encouraged" by its start to the new year.
The company on Tuesday posted pre-tax profit of £1bn on sales of £13.1bn, up 6.8% and said it was "comfortable" with the current consensus of sell-side analyst expectations for 2022/23 adjusted profit before tax of £769m. Current like-for-like sales took in the period to March 22 and were up 16% on a two-year basis.

On an adjusted basis, Kingfisher which also owns Screwfix along with Castorama and Brico Depot in France, made adjusted pre-tax profit £949m in the 12 months to January 31, up from £786m. The total dividend was lifted by 50% to 12.4p a share.

Kingfisher sales have boomed during the Covid pandemic as people stuck at home during lockdown's took on home improvement projects. Adjusted profits were largely driven by higher retail sales.

The company said it was "mindful" of the heightened macroeconomic and geopolitical uncertainty that has emerged since the start of the year.

It added that it had no exposure to the war in Ukraine and said on March 1 it stopped selling "the limited number of products directly sourced from Russian and Belarusian suppliers across the Group, and those products have been removed from our shelves".

"With regards to indirect supply, we are engaging with our suppliers to ensure materials or components are no longer sourced from Russia or Belarus."

Susannah Streeter, analyst at Hargreaves Lansdown, said the pre-tax result was "impressive given the headache of goods shortages which have beset the sector".

"It seems that the race to find more space in our homes for locked-down living has continued, as consumers look for longer term solutions to new hybrid ways of working. For now, even big ticket items like new kitchens and bathrooms are in high demand, with the showroom order book for B&Q and French chain Castorama up 72% compared to last year."

"But the company has flagged heightened uncertainty ahead and there is a risk that, while lockdown savings dwindle away as household bills shoot up, customers may become a lot more conservative with their makeover budgets in the months to come.''

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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 241.40p
Change Today 2.10p
% Change 0.88 %
52 Week High 356.00p
52 Week Low 203.00p
Volume 805,245
Shares Issued 1,950.46m
Market Cap £4,708.42m
RiskGrade 158

Kingfisher Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
27.48% above the market average27.48% above the market average27.48% above the market average27.48% above the market average27.48% above the market average
6.67% below the sector average6.67% below the sector average6.67% below the sector average6.67% below the sector average6.67% below the sector average
Price Trend
18.19% below the market average18.19% below the market average18.19% below the market average18.19% below the market average18.19% below the market average
40.43% above the sector average40.43% above the sector average40.43% above the sector average40.43% above the sector average40.43% above the sector average
Income
73.44% above the market average73.44% above the market average73.44% above the market average73.44% above the market average73.44% above the market average
69.23% above the sector average69.23% above the sector average69.23% above the sector average69.23% above the sector average69.23% above the sector average
Growth
42.22% above the market average42.22% above the market average42.22% above the market average42.22% above the market average42.22% above the market average
6.67% above the sector average6.67% above the sector average6.67% above the sector average6.67% above the sector average6.67% above the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 10
Sell 5
Strong Sell 2
Total 19
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 09-Dec-2022

Time Volume / Share Price
11:22 1 @ 241.40p
11:22 5,603 @ 241.40p
11:22 958 @ 241.50p
11:22 373 @ 241.60p
11:22 649 @ 241.50p

Kingfisher Key Personnel

Chair Andrew Cosslett
CEO Thierry Garnier
CFO Bernard Bot

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