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You are here: Home | News | The City view - Kingfisher

The City view - Kingfisher

Monday February 16th 2009

Teathers is predicting a like-for-like sales decline to be delivered at the Kingfisher Q4 update on Thursday but it also expects the company to make further margin and cost control progress.

The broker is forecasting a 10% decline at the core B&Q chain
that would be similar to the fall seen at rival Homebase, which represents a deteriorating performance over the year. However, Teathers says further upside could be delivered on margin and cost control.

The broker has a £365 million pre-tax profit forecast for 2008/9, which is slightly less than consensus at £363 million, and maintains a 'Hold' recommendation on Kingfisher whose shares currently trade at 142.3p.


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