Roundtable Discussion; The Future of Mineral Sands. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksKingfisher Share News (KGF)

Share Price Information for Kingfisher (KGF)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 248.70
Bid: 248.90
Ask: 249.10
Change: 4.70 (1.93%)
Spread: 0.20 (0.08%)
Open: 245.40
High: 249.30
Low: 243.80
Prev. Close: 244.00
KGF Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 2-Kingfisher downbeat on France's 2014 prospects

Thu, 28th Nov 2013 11:06

* Q3 retail profit 271 mln pounds vs f'cast 280 mln

* Sales up 8 percent to 2.92 billion pounds

* Like-for-like sales up 1.4 pct

* France retail profit down 5.6 pct, UK up 8.3 pct

* Shares fall up to 6.6 pct

By James Davey

LONDON, Nov 28 (Reuters) - Kingfisher, Europe'sbiggest home improvement retailer, highlighted contrastinggrowth prospects for 2014 in Britain and France as it postedthird-quarter profit at the lower end of forecasts, blaming atough French market.

Shares in the group, which trades from 1,082 stores in ninecountries in Europe and Asia, fell up to 6.6 percent on Thursdayafter it said there were no obvious signs in France of animminent improvement in consumer confidence.

France, where Kingfisher trades as Castorama and BricoDepot, is the group's most profitable market.

Chief Executive Ian Cheshire said there was a stark contrastbetween the outlook for Britain and for France, pointing to UKunemployment of 7.6 percent as opposed to over 11 percent inFrance and a UK housing market that is growing as opposed to aFrench housing market that is declining.

"You've got belief (in Britain) that things will be betternext year which is not the case in France," he told reporters.

Analysts at Cantor Fitzgerald cut their 2013-14 pretaxprofit forecast to 745 million pounds ($1.21 billion) from 755million pounds and their forecast for the following year by asimilar amount, saying they saw limited upside to both earningsand margins in France.

Kingfisher, which also runs the B&Q and Screwfix chains inBritain, made a retail profit of 271 million pounds ($441million) in the 13 weeks to Nov. 2 - an increase of 1.7 percenton a constant-currency basis.

That compared with analyst forecasts in a range of 271 to285 million pounds, with a consensus of 280 million.

Total sales rose 8 percent to 2.92 billion pounds, withsales at stores open over a year up 1.4 percent.

In France like-for-like sales were flat and retail profitfell 5.6 percent, impacted by a slightly lower gross marginpercentage in a more price-promotional environment.

Like-for-like sales in the UK & Ireland increased 2.0percent, while retail profit was up 8.3 percent, driven bygrowing demand at the construction end of the home improvementmarket, assisted by government initiatives to stimulateBritain's housing market.

B&Q and Screwfix also got a boost to trade after a severestorm hit Britain in October, with sales of fence panels up 41percent year-on-year in the week after the storm.

Kingfisher saw sales growth in each of its otherinternational markets, including Poland, Germany and China.

The group is Europe's biggest home improvement retailer interms of sales and No.3 in the world behind U.S. groups Lowe's and Home Depot.

It has offset weak demand in many of its markets with a"self help" drive to improve profitability by buying more goodscentrally, and directly, from places like China.

"Looking ahead, we remain ready to capitalise on anyimprovement in conditions or opportunities as they arise," saidCheshire, adding he remained "enthusiastic about our longer-termprospects."

Shares in Kingfisher, up 39 percent this year beforeThursday's update, were down 21 pence at 374.5 pence at 1103GMT, valuing the business at 8.9 billion pounds.

More News
23 Oct 2023 19:21

London close: Stocks mixed at start of busy week

(Sharecast News) - London's stock markets finished with a varied performance on Monday, driven by concerns over rising UK bond yields and global interest rate trends.

Read more
12 Oct 2023 16:02

London close: Stocks mixed as US inflation comes in slightly hot

(Sharecast News) - London markets ended with a mixed outcome on Thursday, as investors digested a fresh inflation reading out of the US, as well as a slight uptick in the UK economy.

Read more
11 Oct 2023 15:01

London close: Stocks weaker amid Gaza tensions, hot US producer prices

(Sharecast News) - Stocks in London ended in the red on Wednesday, impacted by heightened concerns regarding global inflation and ongoing situations in the Middle East.

Read more
5 Oct 2023 15:47

UK dividends calendar - next 7 days

Friday 6 October 
Admiral Group PLCdividend payment date
Alfa Financial Software Holdings PLCspecial dividend payment date
Anglo-Eastern Plantations PLCdividend payment date
Blackrock World Mining Trust PLCdividend payment date
Cairn Homes PLCdividend payment date
Dalata Hotel Group PLCdividend payment date
Drax Group PLCdividend payment date
Glanbia PLCdividend payment date
GlobalData PLCdividend payment date
Goodwin PLCdividend payment date
Greggs PLCdividend payment date
Intertek Group PLCdividend payment date
Irish Continental Group PLCdividend payment date
JPMorgan American Investment Trust PLCdividend payment date
JPMorgan Global Growth & Income PLCdividend payment date
Land Securities Group PLCdividend payment date
Personal Assets Trust PLCdividend payment date
Quartix Technologies PLCdividend payment date
Serco Group PLCdividend payment date
Walker Crips Group PLCdividend payment date
Warehouse REIT PLCdividend payment date
Zotefoams PLCdividend payment date
Monday 9 October 
Henderson Smaller Cos Investment Trust PLCdividend payment date
LondonMetric Property PLCdividend payment date
Tuesday 10 October 
LSL Property Services PLCdividend payment date
Wednesday 11 October 
Assura PLCdividend payment date
Rathbones Group PLCdividend payment date
Thursday 12 October 
Blackrock Latin American Investment Trust PLCex-dividend payment date
Breedon Group PLCex-dividend payment date
Diageo PLCdividend payment date
GSK PLCdividend payment date
Howden Joinery Group PLCex-dividend payment date
i3 Energy PLCex-dividend payment date
Invesco Bond Income Plus Ltdex-dividend payment date
JPMorgan Asia Growth & Income PLCex-dividend payment date
JPMorgan Mid Cap Investment Trust PLCex-dividend payment date
Kingfisher PLCex-dividend payment date
MP Evans Group PLCex-dividend payment date
Macfarlane Group PLCdividend payment date
North American Income Trust PLCex-dividend payment date
Oxford Instruments PLCdividend payment date
Persimmon PLCex-dividend payment date
Personal Group Holdings PLCex-dividend payment date
Primary Health Properties PLCex-dividend payment date
Ruffer Investment Co Ltdex-dividend payment date
Senior PLCex-dividend payment date
Spirax-Sarco Engineering PLCex-dividend payment date
Strategic Equity Capital PLCex-dividend payment date
Supermarket Income REIT PLCex-dividend payment date
Taylor Wimpey PLCex-dividend payment date
Tesco PLCex-dividend payment date
TT Electronics PLCdividend payment date
WPP PLCex-dividend payment date
XP Power Ltddividend payment date
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
2 Oct 2023 09:41

LONDON BROKER RATINGS: Morgan Stanley cuts NatWest; PageGroup raised

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

Read more
26 Sep 2023 09:23

LONDON BROKER RATINGS: RBC likes Bellway, Redrow among housebuilders

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

Read more
20 Sep 2023 09:34

LONDON BROKER RATINGS: SocGen cuts BAE; BoA resumes IHG with 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Read more
19 Sep 2023 16:57

LONDON MARKET CLOSE: Stocks close mixed ahead of Fed and BoE decisions

(Alliance News) - Stock prices in London closed mixed on Tuesday, as investors nervously look ahead to interest rate decisions from the US and England, and what they will mean for the rest of 2023.

Read more
19 Sep 2023 14:04

FTSE 100 movers: Kingfisher down 11% after profit warning

(Sharecast News) - Kingfisher lost more than a tenth of its market value on Tuesday after the DIY retail conglomerate warned shareholders that it would have to scale back profit guidance this year.

Read more
19 Sep 2023 12:05

LONDON MARKET MIDDAY: London largely up despite slew of outlook cuts

(Alliance News) - Stock prices in London were mostly higher at midday Tuesday, after news that eurozone inflation eased slightly in August and despite some less-than-stellar local corporate updates.

Read more
19 Sep 2023 09:00

LONDON MARKET OPEN: Stocks rise; Kingfisher drops on guidance cut

(Alliance News) - Stock prices in London opened slightly higher on Tuesday, but a cautious sentiment prevailed in global equity markets ahead of central bank meetings and the upward trajectory of oil prices.

Read more
19 Sep 2023 08:58

TOP NEWS: Kingfisher cuts guidance but plots GBP300 million buyback

(Alliance News) - Kingfisher PLC on Tuesday cut its annual profit outlook, with sales in July hurt by wet weather, though the owner of a number of DIY chains announced a new share buyback.

Read more
19 Sep 2023 07:54

LONDON BRIEFING: Kingfisher unveils share buyback but cuts guidance

(Alliance News) - Stocks in London are called flat on Tuesday, as upcoming central bank decisions and the latest rise in oil prices subdue risk appetite.

Read more
19 Sep 2023 07:43

Kingfisher lowers full-year expectations as Poland operations drag

(Sharecast News) - Kingfisher lowered its profit expectations for the full year on Tuesday despite reporting a slight increase in first-half sales of 1.1% to £6.88bn, with like-for-like sales slightly ahead of expectations.

Read more
18 Sep 2023 17:07

TRADING UPDATES: Kropz makes ZAR155 million draw down on loan

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.