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KGF Kingfisher Plc

248.10
-1.20 (-0.48%)
24 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Kingfisher Plc LSE:KGF London Ordinary Share GB0033195214 ORD 15 5/7P
  Price Change % Change Share Price Shares Traded Last Trade
  -1.20 -0.48% 248.10 10,592,139 16:35:08
Bid Price Offer Price High Price Low Price Open Price
248.00 248.20 252.00 247.70 250.80
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Misc General Mdse Stores 12.98B 345M 0.1819 13.63 4.7B
Last Trade Time Trade Type Trade Size Trade Price Currency
18:45:01 O 181 249.863 GBX

Kingfisher (KGF) Latest News (1)

Kingfisher (KGF) Discussions and Chat

Kingfisher Forums and Chat

Date Time Title Posts
23/4/202415:30KGF1,319
09/1/202423:42B&Q has Green Fingers. Save Our Peat and be Friends of the Earth85
05/7/202215:52Kingfisher13
18/1/202114:42Kingfisher Q1 Preview 15.05.201940
14/1/202113:21kgf mucking around-

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Kingfisher (KGF) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
17:45:01249.86181452.25O
17:45:01249.9337.50O
17:45:01249.9295237.43O
17:10:01248.4672,826180,943.48O
17:09:50249.085,71114,224.79O

Kingfisher (KGF) Top Chat Posts

Top Posts
Posted at 24/4/2024 09:20 by Kingfisher Daily Update
Kingfisher Plc is listed in the Misc General Mdse Stores sector of the London Stock Exchange with ticker KGF. The last closing price for Kingfisher was 249.30p.
Kingfisher currently has 1,896,873,288 shares in issue. The market capitalisation of Kingfisher is £4,704,245,754.
Kingfisher has a price to earnings ratio (PE ratio) of 13.63.
This morning KGF shares opened at 250.80p
Posted at 25/3/2024 08:00 by rb1206
KGF, with 3rd profit warning...I would expect to retest 200p minimum for now.
Posted at 23/11/2023 11:56 by waldron
One must remember that KGF has BRICO DEPOT in France
Posted at 23/11/2023 11:49 by waldron
Current trading and outlook

Q4 has started largely in line with the trends of Q3, including continued resilience in the UK and market weakness in France (with Brico Dépôt closing the gap in performance to Castorama). For the three weeks to 18 November 2023(7) , Group LFL sales were -3.4%.

We continue to take decisive cost actions in France, more than offsetting the impact of inflation. However, given continued market weakness, this is not sufficient to offset the impact of lower sales in this region. Reflecting our expectation for this trend to continue in France for the balance of the year, we now expect FY 23/24 Group adjusted pre-tax profit (PBT) to be c.GBP560m (previous guidance c.GBP590m).

Our revised sales expectation flows through to cash, and so we now expect to deliver c.GBP 470 m of free cash flow for the year (previous guidance >GBP500m). This free cash flow is supported by ongoing sales and profit resilience in the UK as well as the unwind of working capital flows in the prior year. We continue to expect a positive contribution from inventory unwind, together with disciplined capital allocation, which underpin our expectation of free cash flow delivery. We also reaffirm our commitment to our recently commenced GBP300m share buyback programme.

Trading in France - Castorama in line with market, Brico Dépôt mix effect, cost actions being taken

As set out in our H1 23/24 results, Q3 in France started with a slight slowdown in the sales trend relative to Q2 (August LFL was -5.3% compared to the Q2 LFL of -3.5%). However, the French home improvement market deteriorated far more than expected in September with Banque de France sales data down 9.1%. Although the market and trading trends have improved in October (and in Q4/November to date) compared to September, we have assumed that the French market will remain at least as weak as October throughout Q4.

As a result of the subdued environment in France this year, we have been proactively managing our operating costs to align as far as possible to trading conditions. The business has strengthened actions on flexing staffing levels, lowered discretionary spend and has accelerated several structural cost reduction initiatives in H2. These actions will also support improved profitability in France over the medium-term.
Posted at 23/11/2023 11:46 by waldron
KINGFISHER : Deutsche Bank lowers its target price
November 23, 2023 at 06:08 am EST

Deutsche Bank cut its target price for Kingfisher shares from 255 to 225 pence on Thursday, following weaker-than-expected quarterly results and a downward revision of full-year forecasts.

The analyst - who still has a 'hold' recommendation on the stock - believes that this disappointment may well reflect a reversal in consumer spending after the rebound that followed the Covid epidemic.

He is particularly concerned about the impact of the slowdown in inflationary pressures on sales in value terms, but also about the low average ticket, the slowdown in the real estate market and the sluggish economic situation in France.

The intermediary - who also points to limited visibility on sales trends and inflationary pressures on costs - believes that Kingfisher's share price should remain locked in at a valuation of between 10 and 12 times its PER until the situation improves.
Posted at 13/10/2023 17:08 by value hound
I bought back in here today at 206p - having last 'visited' during the maximum fear of March 2020 (but then sold too early!).

Anyway, I think KGF is fairly defensive and on a very undemanding rating and good yield etc., now, so was interested to read this today from Money Week fwiw:

--

Kingfisher (LSE: KGF) is an international home improvement company with about 1,980 stores, nearly 1,200 of which are in the UK and Ireland. It operates in eight countries across Europe under retail banners including B&Q, Castorama, Brico Dépôt, and Screwfix. Lockdowns hit the firm’s profits, while the stock price was also affected by a derating (a lower value placed on its earnings by the market).

And the pain hasn’t ended yet. In the six months to 31 July, like-for-like sales fell by 2.2%. Profit dropped 23% to £433m, reflecting higher operating costs in the UK, Ireland and Poland caused mainly by increased pay rates and energy costs. As a result, Kingfisher is cutting its 2023-2024 full-year adjusted pre-tax profit guidance to £590m (the previous guidance was for £634m).

However, “trading in the UK & Ireland continues to have positive momentum”, says the firm. “We remain very positive on the medium-to-long-term outlook for home improvement.” Many new homes will be needed in future. Kingfisher is “confidentR21; in its scope for growing market share. A new £300m share buyback programme reflects its bullishness.

Earnings estimates put the stock on a p/e of 9.4 for next year, dropping to 8.3 for the following 12 months. Though the price may drop further, that is a distinctly cheap valuation. Future profit growth would make the stock even better value. Meanwhile, the yield is 5.7%, with the dividend almost twice covered by prospective earnings. Buy.
Posted at 19/9/2023 23:05 by m_kerr
pretty harsh share price IMV. it's returning about £400-500m to shareholders pretty reliably, and has a growth story in screw fix. IMV the returns on screw fix are extremely high, and once a degree of stability returns to the housing market, could yield a massive valuation were it to be spun off.

gross margin also is remarkably stable, despite all that is going on. the stock has been under valued for a number of years now.

france is obviously a market the business knows very well, the CEO and CFO are french as well. i wouldnt bet the farm on screw fix succeeding there, but in this valuation you're not paying anything for it, so it's free upside.
Posted at 19/9/2023 19:05 by essentialinvestor
Hi Dean, tbf I don't have enough knowledge on the French DIY market to comment; what I can say is if you go back about 8-9 years, France was their most profitable country by some margin (on a pre tax profit basis).

The CEO talks a good talk, but that reduction in guidance, taking pre tax to below £600 million is pretty poor. KGF made more on pre tax in FY 2010 and that's without allowing for any inflation since.
Posted at 19/9/2023 15:39 by essentialinvestor
Hi Dean, yes is the answer to your question - approx £2.4 BN of lease liabilities
on the balance sheet.

Following the COVID boom net cash was around £1 bn, a lot of which has been spent
on share count reduction.

They are ploughing ahead with the ScrewFix France physical store roll out,
better be calling that correctly or it may be expensive - SrewFix failed in Germany.
Posted at 25/5/2023 16:23 by scooo
KGF were caught sleeping by the advance of Amazon and other online competition some years back, and suffered badly for it. They now promote their own e-commerce proposition and of course have an extensive store network to give comprehensive appeal.

Amazon et al will achieve a significant & permanent presence in the market place but will level off at some point, which may not be too far off.

The direct in-store proposition has its advantages for DIY in terms of immediacy, inspection, advice and return convenience. I think the current share price undervalues KGF combined online & instore strengths, and overestimates the further potential of pure online players to take market share.

The disappointing historic share performance has reflected the earlier online attrition but the future outlook may be somewhat more robust.
Posted at 10/5/2023 10:35 by systemsthinker
I can't understand why KGF isn't more popular, at least as a long term investment:

P/B: 0.74
P/E: 10%
Yield: 4.75% and well covered.
Debt/Gearing: Just about right (around 35%)
Good profits, set to grow steadily.
Operating in 8 countries so some protection from Brexit etc
A good, but not radical, strategy to improve and accelerate their digital/data/ecommerce operations and roll out compact stores.
They seem to have a strong management team and motivated staff
There is a need for their services whether the economy worsens OR improves (within reason!)

Is it just that KGF is just not very glamorous??? Is it that it's not a '10 bagger' and unlikely to make an investor rich overnight? What am I missing?!?
Kingfisher share price data is direct from the London Stock Exchange

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