Kingfisher has reported 1H PBT (before transformation and exceptional costs of £109m) of £353m (1H 2018/19 £377m both years IFRS 16) and on the basis of weak 2Q sales at B&Q and Castorama and some phasing benefits in the gross margin to 1H we would expect 1/20E market consensus underlying PBT estimates to reduce by 3-5%.
18 Sep 2019
Reaction – small downgrade, new CEO uncertainty
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Reaction – small downgrade, new CEO uncertainty
Kingfisher Plc (KGF:LON) | 250 0 0.0% | Mkt Cap: 4,680m
- Published:
18 Sep 2019 -
Author:
Tony Shiret -
Pages:
3
Kingfisher has reported 1H PBT (before transformation and exceptional costs of £109m) of £353m (1H 2018/19 £377m both years IFRS 16) and on the basis of weak 2Q sales at B&Q and Castorama and some phasing benefits in the gross margin to 1H we would expect 1/20E market consensus underlying PBT estimates to reduce by 3-5%.