Q1 sales galloped c.64% yoy (in lfl terms) as consumers’ demand for DIY products sustained, besides favourable comparables. Given the strong sales trends in Q1 and early May, management revised upwards its sales and adjusted PBT guidance. We will raise our estimates, but are likely to maintain our cautious stance as the current DIY spend momentum seems unsustainable.
20 May 2021
Strong Q1 sales momentum + upgraded FY profit guidance
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Strong Q1 sales momentum + upgraded FY profit guidance
Kingfisher Plc (KGF:LON) | 250 2.7 0.4% | Mkt Cap: 4,678m
- Published:
20 May 2021 -
Author:
Vansh Mehta -
Pages:
3
Q1 sales galloped c.64% yoy (in lfl terms) as consumers’ demand for DIY products sustained, besides favourable comparables. Given the strong sales trends in Q1 and early May, management revised upwards its sales and adjusted PBT guidance. We will raise our estimates, but are likely to maintain our cautious stance as the current DIY spend momentum seems unsustainable.