Kingfisher Share Discussion Threads

[andrewlewis] 28/3/2009 20:56

Waldron

Appreciate your input. KGF figures look pretty good considering the Chinese situation. The company can't grow without expanding abroad and the other overseas subsidiaries seem to be doing well. Are you still positive about KGF's future?

[waldron] 28/3/2009 09:39

andrew

i really don't know.

one thing i had noticed was it seems axa runs retail index linked funds
and thus the interest in kingfisher.

[andrewlewis] 28/3/2009 09:33

Waldron

Thanks for the info on Axa. Is this an investment or selling on to a takeover company?

[ecomk1d] 26/3/2009 09:18

damn. good call, but didn't take a position at all ..

[ecomk1d] 26/3/2009 07:43

short sell today ?

[waldron] 24/3/2009 13:14

From The Sunday TimesMarch 22, 2009

Kingfisher seeks a big fix for ChinaJenny Davey: Inside he CIty
ALL eyes will be on Kingfisher this week when it updates the City on plans for its loss-making Chinese business.

The DIY group exported its B&Q brand to China amid much hype with a single store opening in Shanghai back in 1999. It then acquired a rival, OBI, and built itself into a chain with 64 stores and more than 10,000 staff – twice the size of its nearest competitor.

And while Britons may be big on home improvements, they were lightweights compared with the Chinese during the boom times. Five years ago the average purchase in the Beijing store was more than £50 – the highest of any B&Q in the world.

Now, however, the Chinese property boom has turned to bust and dragged B&Q's Chinese operation into the red. Last year sales were down 30% and racked up a £17m quarterly loss. This week analysts at Credit Suisse forecast that B&Q would close between 10 and 20 of its Chinese stores and make between £100m and £200m of writedowns on the business.

Analysts from Deutsche Bank believe a combination of closures, downsizing and write-offs will reduce losses from £52m to £32m in 2009-10.

Back home Kingfisher will also unveil ways to maximise synergies between its B&Q and Screwfix divisions. The group will announce B&Q and Screwfix will offer next-day delivery on 12,000 products on the B&Q website – part of Kingfisher boss Ian Cheshire's "delivering value" plan.

Euan Sutherland, the B&Q chief executive, will also oversee more extensive development of Screwfix. An Electricfix catalogue will be launched next week aimed at electricians and Screwfix's trade-counter network, which has small units on industrial estates, will also be expanded.

Both the action on China and the Screwfix plans show Cheshire is getting to grips with restructuring the business. But despite his best efforts, worries remain that its French and Polish operations could be hit by a worse than expected sales slowdown.

Kingfisher shares have been remarkably resilient in the past 12 months and trade at 12 times 2009 earnings. However, this may not reflect the economic and execution risks in the business.

Cheshire should be applauded for his efforts, but prospective investors should sit on the sidelines for now.

IT IS common for companies to be reticent about forecasting future trading at the moment, with no-one willing to take a bet on where the economy is headed. At Jarvis, the rail engineering group, there is a more specific problem.

Network Rail, its biggest customer, has decided to cut back the amount of work it does, which is bad news for Jarvis. Just how bad we don't know. Jarvis told shareholders about Network Rail's intentions in January, and followed up a few weeks later with a warning that results for the 2009-10 financial year were now expected to be "significantly below previous management expectations".

There is still no exact detail on how much worse, however, pending discussions between the company and Network Rail. Analysts at KBC Peel Hunt and Brewin Dolphin have stopped issuing reports on the company as they say there isn't much point until the outcome of the talks is known.

It's another testing period for Jarvis's long-suffering shareholders. The group was once a member of the FTSE 250 (it shares traded above £15 in the early years of the decade), but it has since fallen a long way. The shares closed on Friday at 4.3p – valuing the entire group at just £9.2m – having fallen by three-quarters in the past 12 months, and underperformed the FTSE-All Share by 61% in the same time.

As executive chairman Steven Norris – the former Tory transport minister and candidate for London mayor – has pointed out, Jarvis should eventually be a beneficiary of Network Rail's spending plans in the next five years. I can't imagine there will be too many investors eager to take that bet.

[waldron] 24/3/2009 13:10

could be axa

[andrewlewis] 24/3/2009 12:55

Waldron


Any thoughts on who is accumulating KGF shares? Or is it just investment trusts etc. Kgf looks very vulnerable to a takeover; especially with its property portfolion?

[scburbs] 02/3/2009 22:46

"In Eastern Europe sales in Poland were up 16.2% to £228 million (+5.5% LFL despite a tough comparative of +12.1%)."



Impressive stuff, but where is this market heading?

With c.60% of Polish mortgages in Swiss Francs the recent depreciation of the Zloty has sent mortgage payments soaring. Surely a fall (or crash) in expenditure in Kingfishers stores is imminent?

[andrewlewis] 24/2/2009 16:37

Waldron

Thank you for the history. What an amazing story. I wonder if there is anyone out there at this time in history that has the wherewithall to take over Kingfisher?

Thanks again

[andrewlewis] 24/2/2009 10:11

waldron

Thanks for the update. We had Woolworth Shares which were then became Kingfisher which sold off Woolworths, Super Drug and Kesa.

Perhaps, you can enlighten me on who founded Kingfisher.


Thanks

[waldron] 23/2/2009 08:11

30 January 2009




Kingfisher plc completes sale of Castorama Italy for EUR615 million




Kingfisher plc, Europe's leading home improvement retailer, today announces that
it has completed the sale of its Castorama Italy business to Leroy Merlin Italy
for total cash proceeds of EUR615 million (GBP5591 million), including an
adjustment for profit generated between 1 July 2008 and completion. The funds
have been received. As announced on 1 August, the proceeds will be used to
reduce Kingfisher's net debt.

[waldron] 22/2/2009 18:19

andrew

woolworths was never the parent

and castorama france has not been sold

[andrewlewis] 22/2/2009 17:48

Lyntwyn

I am new to this thread having gone through the debacle of Woolworths who used to be the parent company of KGF.

I wonder if you have heard what happen to the sale of Castorama in France? What was received for the company and how it how has that helped the balance sheet?

[shammytime] 19/2/2009 09:44

Phat, decent results imo.

Should see 150 in a few days.

[phatprofit] 16/2/2009 16:48

You must be off your head - shammy.

This one is on the verge .............

Keep Selling


P

[shammytime] 16/2/2009 08:24

This one is looking a very strong recovery play - sould see 150+ this week.

[victorjohn] 07/2/2009 17:12

The recently completed sale of its Castorama Italy business will significantly reduce Kingfisher's debt (by more than EUR600 million) at a time when a strong
balance sheet is so important.

A very positive move in my view.

[mryesyes] 15/1/2009 18:36

told you to sell, the shorts are onto this retailer

[thedoronron] 18/11/2008 19:21

Press releases
November 18, 2008
Kingfisher Ranked Second in The Observer Good Companies Guide 2008

Kingfisher Top Retail Business for Second Year Running

Kingfisher has been ranked second in The Observer Good Companies Guide 2008. The Guide identifies the best companies in the FTSE350 and is designed to help private investors who want to put their money into companies making a positive contribution to society.

The Guide, now in its second year, is researched by Co-Operative Investments and ranks companies according to a range of social, environmental and corporate governance criteria. Kingfisher was the highest scoring retail business for the second year running after being awarded fourth place last year.

Commenting on the result, Ray Baker, Kingfisher's Director of Corporate Responsibility said: "We are delighted to have been awarded second place and made it into the top five ranking for two consecutive years. Putting sustainability at the heart of our commercial agenda brings enormous opportunities and being environmentally responsible is part of our ordinary course of business.

"We are committed to making it easier and affordable for our customers worldwide to create sustainable homes, which can reduce energy use and energy bills. For example, B&Q UK recently launched its 'One Planet Home' range of products designed to help customers reduce their impact on the environment, and Castorama France introduced its 'La Maison Eco' providing educational tips and information for consumers on how to make their homes more sustainable and energy-efficient.

"We recognise that these are complex matters and that we don't have all the answers, but through our Corporate Responsibility programme all our businesses address a wide range of issues using a series of progressive steps. As both the highest scoring retailer and the world's third-largest home improvement retail business, we're ideally placed to help people make informed decisions to create sustainable homes for the future."

The Guide awarded Kingfisher an overall score of 87.05 out of 100 and cited the company as being among the most proactive companies in the CSR arena praising its Steps to Responsible Growth CSR strategy. It is admired in particular for its rigorous approach to its supplier base, dynamic management and progressive attitude as an employer.

ENDS

[waldron] 30/10/2008 17:50

Kingfisher downgraded to "sell"
6:00a.m. - Panmure Gordon & Co
LONDON, October 30 (newratings.com) - Analyst Philip Dorgan of Panmure Gordon downgrades Kingfisher Plc (KGF-GBX) from "hold" to "sell," while reducing his estimates for the company. The target price has been reduced from 120p to 80p.

In a research note published this morning, the analyst mentions that the housing market in the UK is declining. The French economy is unlikely to remain unaffected by the global recession going forward, the analyst says. The company's international profits are likely to be adversely impacted by the recession going forward, Panmure Gordon adds. The EPS estimates for 2009 and 2010 have been reduced from 9.89p to 9.65p and from 10.75p to 8.26p, respectively.