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went round my local b and q s last week and weekend. very busy even during mid week. rung family and friends in france and they said a similar thing. with the mild weather approaching, the housing market still stagnant ( so people carrying out home improvements), this on this the face of it , has a very healthy turnover. i know this is a very simplistic view, and i know this is only a small part of the business, but i am trying to be practical with my approach, i am in. there is a dividend due in a couple of weeks too. soo i would expect a short rise to the 247 / 250p in the short term.
All this good news and the SP has dropped, it's needs some BA type bad news (like a strike) before it rises I guess
B&Q and Castorama chain owner Kingfisher raised its dividend for the first time in five years as profits bounced back in 2009. Debt also tumbled and the group has now expanded its capital investment plans. Chief executive Ian Cheshire said that while the group remains cautious on the outlook for consumer demand across Europe, "Recognising our improved profitability, cash generation and future growth prospects I am delighted that the final dividend payment will be increased, the first dividend growth for our shareholders in five years." Total sales from on continuing businesses grew 4.8% to £10.5bn on a reported rate basis, and 1.1% on a constant currency basis. On a like-for-like basis, group sales were down 1.5%. Underlying profit rose by 49% to £574m from £368m, with pre-tax profits up 90% to £566m, before one-offs. Retail profit before exceptional items grew by 32% to £664m and by 75% to £681m including exceptional items. Profitability, cash generation and return on capital all grew in the UK & Ireland, France, Poland, Turkey and Spain, Kingfisher said, while losses were significantly reduced in China as the turnaround plan progressed. Debt at the year-end fell to £250m from £1bn and the gross capital investment budget for 2010/11 has been increased to around £400m. The final dividend also rises by 5.1% to 3.575p, with a total for the year of 5.5p, up 3.3%.
lp 197p .....how far is this going ??
.... said that it expects "another good Q3 performance" from retailer Kingfisher (KGF). The broker commented that weak comparables should mean B&Q will show strong performance while Castorama and Brico Depot will benefit from increased consumer confidence in France. It believes that further upgrades are likely for Kingfisher "given the strength in retail sales seen elsewhere in the sector and the robustness of consumer demand". However, growth next year will be "harder to come by" as a result of tough comparables due to Summer 2009 being "perfect DIY weather" and the "turnaround of China will become more important". Shore kept its 'sell' stance. The shares rose by 5p to 247p.
I just went short. http://www.investegate.co.uk/Article.aspx?id=200910151700018476A
MADRID (MarketWatch) -- U.K. retailer Kingfisher was upgraded to equal-weight from underweight on Wednesday at Morgan Stanley, which said the shares are on track to deliver value and are trading at their lowest relative rating for four years.
The presence of General Retailers in the list is a bit of a surprise given the credit crunch, the decline in consumer sentiment and the burgeoning threat posed to bricks and mortar retailers by the Internet. Certainly the likes of Curry's and PC World owner DSG, DVD and books seller HMV and computer game specialist Game Group (LSE: GMG.L - news) have been hit by the latter, but the poor performance of these is more than offset by the strong showing by the likes of department store Debenhams (LSE: DEB.L - news) , fashion retailer Next and DIY outfit Kingisher.
They have possibly finished lower because they have gone ex dividend.I feel they will rise to 250-280 as well.
Not sure why these finished down ...i can see these shooting up to 250 - 280 very soon.
hm... What do people think of Kingfisher's early H1 release? Was it planned to shoot up their price? The market seems to have reacted early on to it before going down. http://www.guardian.co.uk/business/marketforceslive/2009/sep/08/kingfisher http://www.ibtimes.co.uk/articles/20090908/forced-early-release-kingfisher-results-pushes-share-price-pre-tax-profit-285-295millionamp.htm
You are a nob!! How are we supposed to know?
Kingfisher reported a 0.7% rise in like for like sales at B&Q in the UK, thanks to a growing trend for home and garden DIY. Total group sales rose 1% in constant currencies in the 10 weeks to 11 July, but fell 2% on a like-for-like basis
WHY are we at 201 now please when will we get to 210 .m.
KGF Kingfisher looking good...one of the fastest riser at the moment......
Best call I've seen in years.....well done Danny ....!!!!....Just hit 194 yipeeeeeee
Im not in here but cant believe how overpriced this share looks in relation to some of the fantastic opportunities around at the moment elsewhere. Like others have said this is one to short, realistic price for this share based on earnings and economic conditions outlook should be more like 70-80p tops in my opinion. If i was holding shares in this at the moment id be selling as fast as is humanly possible.
Kingfisher profits fall 75 per cent as Chinese woes takes their toll http://www.independent.co.uk/news/business/news/kingfisher-profits-fall-75-per-cent-as-chinese-woes-takes-their-toll-1655442.html
"Full year sales rose almost 11% at Kingfisher where adjusted pre-tax profit came in 3% higher, although the DIY retailer is shutting stores in China after sales slumped by a quarter. The B&Q owner reported a rise in adjusted profit before tax to £368m for the year ended 31 January 2009, up from £357m a year ago, pretty much as expected. Retail sales increased 10.8% to £10.03bn and retail profit by 7.2% to £503m."
already 1.5k short on this....thinking of going 15k short on this!!
"With little sign of a revival in the UK housing market trading has undoubtedly been tough for DIY retailer Kingfisher but the B&Q owner said last month that it is on course to hit market expectations of pre-tax profit of around £364m. Broker KBC Peel Hunt is more concerned about the company’s overseas operations, especially France. “We believe consensus estimates for France of low single-digit LFL [like-for-like] declines may prove to be overly optimistic,” the broker said."
"With little sign of a revival in the UK housing market trading has undoubtedly been tough for DIY retailer Kingfisher but the B&Q owner said last month that it is on course to hit market expectations of pre-tax profit of around £364m." - but still money to be made here, if you are short [2X] :)
Yes, standing by, here, also. "Shore Capital reiterated its 'sell' rating for DIY specialist retailer Kingfisher ahead of the firm's full year results due on 26 March. The B&Q owner is expected to meet consensus January 2009 pre-tax profit estimates of 364 million pounds (Shore Capital is forecasting 2009 366 million pounds and EPS of 10.7p), but the broker said the firm's results will be "quite academic". "We continue to believe the stock is overvalued compared with its peers, especially as its profitability has been supported by the strengthening in the euro and so it is not being valued off depressed earnings," commented the broker. The shares are trading on a January 2010 forecast PE ratio of 15 and EV/EBITDA of 7.5 versus the sector average of 12 and 5.7 respectively. Kingfisher shares finished 1p higher at 138.1p."
With its exposure to shrinking European markets.