Kingfisher once again disappointed investors with its dwindling top-line. Although H1 FY19/20 profitability was ahead of street estimates, it is likely to be offset with higher stock clearance costs in the second half. All eyes are now set on the new CEO, if he will make the difference. Impatient investors are, however, unlikely to give him much time to prove his worth. No material change in our estimates.
19 Sep 2019
The struggle continues...
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The struggle continues...
Kingfisher Plc (KGF:LON) | 250 0 0.0% | Mkt Cap: 4,680m
- Published:
19 Sep 2019 -
Author:
Mohit Rathi -
Pages:
3
Kingfisher once again disappointed investors with its dwindling top-line. Although H1 FY19/20 profitability was ahead of street estimates, it is likely to be offset with higher stock clearance costs in the second half. All eyes are now set on the new CEO, if he will make the difference. Impatient investors are, however, unlikely to give him much time to prove his worth. No material change in our estimates.