Kingfisher released a Q2 FY16 trading update ahead of our estimates as well as market consensus. The lfl revenue increased by 3% (vs Q1 16: +3.6%, Q4 15: +2.8%; our estimate: +1.5%), once again driven by the strong performance in the UK & Ireland (Q2 16: +7.2% vs our estimate: +1.8%). B&Q clocked lfl growth of 5.6% (vs our estimate: +2.5%) on the back of strong demand of both seasonal (+9.6% yoy) and non-seasonal products (+3.4%; includes showroom). Likewise, Screwfix continued the re
09 Sep 2016
Strong performance in the UK; France lags temporarily
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Strong performance in the UK; France lags temporarily
Kingfisher Plc (KGF:LON) | 245 -6.4 (-1.0%) | Mkt Cap: 4,593m
- Published:
09 Sep 2016 -
Author:
Nishant Choudhary -
Pages:
4
Kingfisher released a Q2 FY16 trading update ahead of our estimates as well as market consensus. The lfl revenue increased by 3% (vs Q1 16: +3.6%, Q4 15: +2.8%; our estimate: +1.5%), once again driven by the strong performance in the UK & Ireland (Q2 16: +7.2% vs our estimate: +1.8%). B&Q clocked lfl growth of 5.6% (vs our estimate: +2.5%) on the back of strong demand of both seasonal (+9.6% yoy) and non-seasonal products (+3.4%; includes showroom). Likewise, Screwfix continued the re