Kingfisher’s FY21 performance was a mixed bag – lfl sales were stronger than expected but the adjusted earnings missed the consensus slightly. Investors seem to be panicking due to management’s commentary about heightened macro-economic and geopolitical uncertainties plus a softer start to Q1 FY22/23. We do not see this as a surprise (considering the tough comparable base) and expect the company to continue gaining market share in key operating regions. No change to the stock’s recommendation.
23 Mar 2022
A softer end to FY21
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A softer end to FY21
Kingfisher Plc (KGF:LON) | 250 8.5 1.4% | Mkt Cap: 4,681m
- Published:
23 Mar 2022 -
Author:
Nishant Choudhary -
Pages:
3
Kingfisher’s FY21 performance was a mixed bag – lfl sales were stronger than expected but the adjusted earnings missed the consensus slightly. Investors seem to be panicking due to management’s commentary about heightened macro-economic and geopolitical uncertainties plus a softer start to Q1 FY22/23. We do not see this as a surprise (considering the tough comparable base) and expect the company to continue gaining market share in key operating regions. No change to the stock’s recommendation.