3Q trade has been reported about 2.5% below consensus estimate at LFL level which arithmetically results in a £20-30m reduction to pre-existing consensus PBT estimates of £633m (source: Kingfisher). Given the trends evident however it is likely that this will follow through into the balance of the year. So we would expect further weakening of 2019/20 PBT estimates to sub £600m. For now a 5% reduction looks to take into account a good portion of the end out-turn.
20 Nov 2019
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Kingfisher Plc (KGF:LON) | 245 -6.4 (-1.0%) | Mkt Cap: 4,593m
- Published:
20 Nov 2019 -
Author:
Tony Shiret -
Pages:
3
3Q trade has been reported about 2.5% below consensus estimate at LFL level which arithmetically results in a £20-30m reduction to pre-existing consensus PBT estimates of £633m (source: Kingfisher). Given the trends evident however it is likely that this will follow through into the balance of the year. So we would expect further weakening of 2019/20 PBT estimates to sub £600m. For now a 5% reduction looks to take into account a good portion of the end out-turn.