It was a weak quarter for Kingfisher, even after adjusting for the unfavourable weather impact. While the UK remains fragile in the near term, France is likely to sail into the black going forward. The turnaround plan remains on track (with future targets intact), and the stock remains well-placed to benefit from any positive development on the macro-economic / DIY front. We have tweaked our estimates but maintain the stock recommendation.
20 Jun 2018
Weak Q1 results
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Weak Q1 results
Kingfisher Plc (KGF:LON) | 248 -3 (-0.5%) | Mkt Cap: 4,645m
- Published:
20 Jun 2018 -
Author:
Nishant Choudhary -
Pages:
3
It was a weak quarter for Kingfisher, even after adjusting for the unfavourable weather impact. While the UK remains fragile in the near term, France is likely to sail into the black going forward. The turnaround plan remains on track (with future targets intact), and the stock remains well-placed to benefit from any positive development on the macro-economic / DIY front. We have tweaked our estimates but maintain the stock recommendation.