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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 | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
3.80 | 1.59% | 242.90 | 243.40 | 243.60 | 244.00 | 237.00 | 241.20 | 5,769,541 | 16:35:17 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Misc General Mdse Stores | 12.98B | 345M | 0.1884 | 12.92 | 4.38B |
Date | Subject | Author | Discuss |
---|---|---|---|
28/3/2008 17:00 | Kingfisher ratings on negative watch on 'weak' FY results - Fitch MUMBAI (Thomson Financial) - Fitch Ratings signalled it may downgrade Kingfisher PLC, citing the UK-based home improvement retailer's "weak" full-year results and Fitch's expectation for only modest improvement in the company's credit profile in the medium-term. The agency placed Kingfisher's long-term issuer default rating (IDR) of 'BBB-' and the short-term IDR of 'F3' on rating watch negative. Kingfisher announced that, while group sales increased by 8 pct for the year and 2.6 pct on a like-for-like basis, pretax profit declined by 12 pct. Fitch noted that Kingfisher's operating margins have been on a declining trend and its free cash flow has been negative since 2004. However, it also noted that management announced several positive measures to preserve cash and weather this cyclical downturn. These efforts include reducing the final dividend and forthcoming interim dividend by 50 pct; reducing capital expenditure to around 400 mln stg; and maintaining a sustainable ceiling for a net debt level of 1.6 bln stg. TFN.newsdesk@thomson jro | ariane | |
28/3/2008 12:15 | Kingfisher 'Baa3' rating outlook cut to negative from stable - Moody's BANGALORE (Thomson Financial) - Moody's Investors Service said it has cut Kingfisher PLC's 'Baa3' rating outlook to negative from stable, citing a further weakening in the company's full year profitability, with operating performance continued to be pressured over the intermediate term because of reduced UK consumer spending. Moody's said it believes that the expected decline in UK consumer spending will weigh on Kingfisher's performance over the next 12 months, challenging the company's ability to improve its profitability and meet its target ratios for maintaining a 'Baa3' rating. The home improvement retail group's international businesses, especially its operations in France, continued growing steadily in the year ended Jan, thus further contributing to itss revenue and profit, but without offsetting the weakness of its UK operations, the ratings agency said. TFN.newsdesk@thomson bsu/ukn/ukn | ariane | |
27/3/2008 12:56 | B&Q's stores revamp hits profits Annual profits at Kingfisher, the owner of DIY chain B&Q, have fallen 2.8% as a result of the cost of revamping its stores and product range. The company said pre-tax profits were £386m in the 12 months to 2 February, down from £397m a year earlier. Kingfisher performed better outside its home UK market. Profits at Castorama and Brico Depot stores in Poland were up 42%, and up 13% in France. The firm said it would concentrate on keeping costs down in the coming year. It will reduce the full-year dividend it pays to shareholders by half to 3.4 pence. Kingfisher also said it expects to make a similar reduction to its six-monthly dividend. Modernisation "We made a major step forward in improving B&Q's offer to customers, introducing more new products and modernising more store space than ever before," said Kingfisher chairman Peter Jackson. B&Q updated 60% of its product ranges last year and modernised the layout of half of its retail space. Kingfisher said sales at B&Q in China were flat, when new store openings are excluded from the figures. The company said this was due to a slowdown in new apartment sales, but asserted that the Chinese market "remains fundamentally attractive". Story from BBC NEWS: Published: 2008/03/27 08:40:29 GMT | waldron | |
27/3/2008 11:17 | Kingfisher slashes dividend as FY profit falls UPDATE (Update adds detail) LONDON (Thomson Financial) - Kingfisher PLC, the B&Q and Castorama home improvement retailer, slashed its final dividend payout by 50 pct as it reported an expected 2.8 pct fall in full year underlying pretax profit. The group, which trades from about 780 stores in nine countries in Europe and Asia, said it expected to cut its interim dividend in the current year by the same magnitude. This would have the effect of rebasing the dividend to a level more prudently covered by current earnings. The final dividend cut will save 80 mln stg, while the anticipated interim cut will save 40 mln stg. Kingfisher has also targeted a 24 pct reduction in current year capital expenditure to preserve cash. Ian Cheshire, who succeeded Gerry Murphy as chief executive in January, defended the dividend cut. "You look at the dividend in the round, relative to the balance sheet, your investment opportunities and the environment. This is both a sustainable level of dividend payout now and one from which we can grow," he told reporters. Unsurprisingly, the group also took a cautious view on the outlook. "No business can fully shield itself from economic cycles and given the current state of the financial markets, most commentators are expecting the short-term outlook to worsen before it improves," said Cheshire. "Against this background, our priorities remain on improving cash margin and controlling costs." For the year to Feb 2, 2008 Kingfisher made a profit before tax and exceptional items of 386 mln stg -- in line with analysts' consensus forecast of 385 mln stg but down from 397 mln stg in the previous year. Full year sales increased 7.9 pct to 9.36 bln stg. The final dividend was cut to 3.4 pence from 6.8 pence last time, giving a total payout of 7.25 pence, down from 10.65 pence, a cut of 31.9 pct. Year-end net debt was 1.56 bln stg. This is in line with previous guidance but worse than the 1.29 bln stg at the last year end. For the current year the group has set a target of constant currency flat net debt, which, if achieved, would be the first flat outcome for three years. Capital expenditure will be cut to around 400 mln stg from 528 mln stg, reprioritised to the highest and fastest-returning projects. Higher "hurdle rates" for investment have already been introduced. "Essentially this is a capex diet for the business which is important if we're going to prioritise and be more demanding about where we're going to put our money and to ensure we get the returns more quickly," Cheshire said. Kingfisher valued its property portfolio at 3.6 bln stg -- more than its market capitalisation and up from 3.2 bln stg this time last year. The CEO has established three new geographical divisions for the business; UK, France and Other International. Philippe Tible, the current CEO of Castorama France, will lead the French division, while an announcement on the UK post will be made shortly. Over the next three months new three year operating plans will be devised. "These will be stretching, but, I believe, achievable, and not simply focusing on like-for-like sales growth to provide the answer," said Cheshire, noting the plans will pay particular attention to margin, cost reduction and the use of working capital. Kingfisher also announced that B&Q China is to be restructured. This resulted in an exceptional charge of 22 mln stg in the 2007/08 accounts, with a further charge of around 11 mln stg expected in 2008/09. "What we are seeing [in China] is a need to consolidate and cope with the growth pains after a period of extremely rapid growth," said Cheshire. Despite the profit fall and rebasing of the dividend, he claimed the group has a "great opportunity" to unlock the full potential of its assets. "By changing how the group as a whole is managed, tightening our use of capital and driving out higher cash returns from our businesses we intend to deliver a step-change in value for our shareholders," he said. On the possibility of asset sales he said "there are no particularly sacred cows". Prior to today's statement analysts were forecasting a consensus year to end-January 2009 underlying pretax profit of 383 mln stg. Kingfisher did not publish a current trading update as it plans to publish a first quarter update in May. However, Cheshire said the earliest Easter since 1913 and the "bonus prize of having snow" was unhelpful. "We can assume that the key Easter weekend for B&Q was pretty disastrous," said Nick Bubb, an analyst at Pali International. Despite the help from the Euro on French profit translation he expects current year underlying pretax profit to fall to 370 mln stg. "The new CEO will hope to do better than that, but at this stage we don't see what he can do to offset the structural and cyclical pressures on the business," he said, repeating his 'sell' recommendation. Analysts at Panmure Gordon were slightly more positive, repeating their 'hold' stance. "Cutbacks in capex, and an increase in investment hurdle rates are both sensible approaches to improving returns, but we're not yet convinced that we'll see meaningful sales progress in the core chain in the year ahead," they said. At 10.30 am shares in Kingfisher, which have come off a 12-month high of 287 pence, were down 2 pence at 133 pence, valuing the business at 3.11 bln stg. james.davey@thomson. jdd/cw/jdd/sal | waldron | |
27/3/2008 08:42 | Kingfisher slashes dividend as FY profit falls UPDATE Adds detail LONDON (Thomson Financial) - Kingfisher PLC, the global home improvement retailer, slashed its final dividend payout by 50 pct as it reported an expected 2.8 pct fall in full year underlying pretax profit. The group, which trades from about 780 stores in nine countries in Europe and Asia, said it expected to cut its interim dividend in the current year by the same magnitude. "This would have the effect of rebasing the dividend to a level more prudently covered by current earnings from which it could grow consistent with the performance and capital needs of the group," said chairman Peter Jackson. Unsurprisingly, Kingfisher also took a cautious view on the outlook. "No business can fully shield itself from economic cycles and given the current state of the financial markets, most commentators are expecting the short-term outlook to worsen before it improves," said Ian Cheshire, who succeeded Gerry Murphy as chief executive in January. "Against this background, our priorities remain on improving cash margin and controlling costs." For the year to Feb 2 2008 the group made a profit before tax and exceptional items of 386 mln stg -- in line with analysts' consensus forecast of 385 mln stg but down from 397 mln stg in the previous year. Full year sales increased 7.9 pct to 9.36 bln stg. The final dividend was cut to 3.4 pence from 6.8 pence last time, giving a total payout of 7.25 pence, down from 10.65 pence, a cut of 31.9 pct. Year-end net debt was 1.56 bln stg -- in line with previous guidance and down from 1.29 bln stg at the last year end. For the current year the group has set a target of constant currency flat net debt. Capital expenditure will be around 400 mln stg, reprioritised to the highest and fastest-returning projects. It said its property portfolio is valued at 3.6 bln stg. Kingfisher also announced that B&Q China is to be restructured. This resulted in an exceptional charge of 22 mln stg in the 2007/08 accounts, with a further charge of around 11 mln stg expected in 2008/09. Despite the profit fall and rebasing of the dividend, Cheshire claimed the group has a "great opportunity" to unlock the full potential of its strong assets. "By changing how the group as a whole is managed, tightening our use of capital and driving out higher cash returns from our businesses we intend to deliver a step-change in value for our shareholders," he said. Shares in Kingfisher, which have come off a 12-month high of 287 pence, closed Wednesday at 135 pence, valuing the business at 3.14 bln stg. james.davey@thomson. jdd/cw | waldron | |
27/3/2008 08:34 | These days it's swinging in the rain. | sicker | |
27/3/2008 08:25 | Sicker -- Swinging down I take it? | ddav | |
27/3/2008 08:02 | Well, an old stockbroker friend of mine says invest in shares for 'growth & income'. The kgf growth has gone and now the income has dropped dramatically so I am now looking else where. I have a few ideas in mind and shall be particularly watching Woolworth trading statement next week before I swing into action. | sicker | |
26/3/2008 23:49 | during a slowdown/downturn consumers will be looking for quality and choice with a wow factor that comes with a reasonable price...staff should be readily available within those high spend departments that can turn customer interest into an actual sale...but without being too pushy...key member of staff are required for assistance... | diku | |
26/3/2008 22:51 | Yewtrees - I wouldn't be so sure that busy looking shops mean decent numbers. I happen to work in a large diy retail chain & I also happen to know that the target was missed by C£20m for easter week. bear in mind that the things that have the strongest margins are in building supplies - and are likely to still be strong, but the focus on soft furnishings, kitchens & bathrooms (as highlighted by B&Q advertising & promotions) is where I suspect they will have taken a hit. I don't see this getting any easier in the short term. | standpipe2 | |
24/3/2008 19:08 | If only UK analyst would understand that...divi cut has been well flagged and has been in the news for some time...just hope the results and the trading statement is not as bad when facing a slowdown in the current economic climate where by consumers are tightening their belts or seeking for quality at a decent price... | diku | |
23/3/2008 16:48 | With the early Easter break and weather still cold and lousy, one should not expect too much from Kingfisher...beyond their control... | diku | |
11/3/2008 20:18 | what happened to the daily charts?... | diku | |
04/3/2008 22:20 | Mustyair , although i am long i could do with some @120p or lower just to trade,and if i have to hold i do not care as i am 100% sure Brands see the value long term and so do i.So even sub 120p i would look to buy a large amount even for me and not trade them for less than 150p. (DYOR) Have a nice evening ,Cheers Puffin. | puffin1 | |
04/3/2008 19:51 | Any more rumours on takeover. My oracle says that KGF is looking for a takeover in the next 8-10 weeks. Any more oracles out there? | andrewlewis | |
04/3/2008 17:48 | puffin1, S&P trading down at 1310 support level, a couple of closes below would mean a potential 900 to 1000 point drop, about 7%. The ftse would probably shadow this. KGF did well to hold its ground today - Brands taking up the slack? The overall outlook for the economy seems to be driving the markets - down, results (what happened last year) don't appear matter a lot. | mustyair | |
04/3/2008 11:12 | LONDON (Thomson Financial) - Travis Perkins PLC, the builders' merchant and home improvement retailer, has reported a better than expected 18.7 pct increase in 2007 underlying pretax profit but reiterated its caution on the outlook for 2008 given uncertainty in the UK housing market. | puffin1 | |
04/3/2008 08:29 | Mustair, I do not see it going below 120 but if it does i am a buyer again,a nice top up to trade on @ 150!!. | puffin1 | |
03/3/2008 16:15 | At this rate we might not have to wait for results to test the low. | mustyair | |
28/2/2008 07:32 | From The TimesFebruary 28, 2008 B&Q rebuilds its image to top the eco-friendly shoppers' chart M&S, Homebase and Ikea are left trailing as home improvement group wins plaudits for its credentials on green and social issuesSteve Hawkes M&S, Homebase and Ikea are left trailing as home improvement group wins plaudits for its credentials on green and social issues B&Q, Britain's biggest home improvement chain, has finally won over the hearts and minds of environmentally conscious shoppers, an exclusive survey for The Times reveals. Nearly two decades after B&Q's former marketing director was forced to admit that he did not know the source of the chain's timber, the company has been voted top of the class in its sector on green and social issues. It comes less than a month after the retailer announced a number of initiatives to boost its eco-credentials, including the phasing-out of controversial patio heaters and a new partnership with the World Wide Fund for Nature on sustainability. A Populus survey compiled for The Times shows that B&Q has a higher standing among customers than Homebase, Marks & Spencer, John Lewis or Ikea when it comes to social and enviromental issues. Related Links World goes cold on patio heaters after EU ban Kingfisher upbeat despite UK slump Kingfisher performance casts doubts over dividend However, nearly two thirds of the 1,600 people surveyed feel that the chains are still not doing enough. Carbon emissions remain one of the highest concerns. Eight out of ten are either "very concerned" or "quite concerned" about the level of CO2 emissions associated with the manufacture and transportation of products designed for our homes and gardens. Patio heaters have become the No 1 enemy of environmentalists in the past year after a surge in demand for them following the introduction of the smoking ban. The Energy Savings Trust calculated that a propane-fuelled heater emitted 34.9kg of carbon dioxide before running empty - the equivalent amount of energy used to make 5,200 cups of tea. Friends of the Earth described the heaters as "carbon-belching monstrosities". Wyevale Garden Centres became one of the first big names in the retail sector to react when it said last year that it would be phasing-out the heaters. At the time B&Q said that it had no plans to follow suit. It changed its mind last month, in part after a survey of customers that showed 64 per cent considered green credentials when buying a product. Ian Cheshire, at the time B&Q's chief executive, said: "A quarter of the UK's total carbon emissions come from the home and, as the largest home improvement retailer, we are uniquely placed to make a difference." Nearly 70 per cent of the group's timber now has to come from well-managed or recycled sources. Others stores are matching B&Q's efforts. Ikea has sold energy-saving light bulbs for ten years and launched a "Bag the Plastic Bag!" programme designed to cut plastic bag usage by 50 per cent to 35 million. Marks & Spencer aims to become carbon-neutral by 2012 under its much-lauded environmental scheme. However, the Populus survey shows that tackling the environment may not be enough. Just as high up the list of consumers' concerns as CO2 emissions come the use of child labour by suppliers and the potential health dangers of chemicals used in products. Giles Gibbons, founder of Good Business, the green campaigner, says: "The social and environmental impact of a product can [now] act to curtail its market growth." | waldron | |
21/2/2008 08:57 | Losses, my pontifications are just that, and not meant as investment advice. | mustyair |
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