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Kingfisher PLC issues analyst estimate update to 2014

B&Q owner Kingfisher PLC has today released updated analyst estimates for its global operations, to January 2014.

In the UK and Ireland, B&Q is forecast to see a decrease in like-for like sales of 1.7% for the full year ending January 2012, with retail profit of £223 million. For the UK and Ireland overall, profit is expected to reach £256 million.

Kingfisher’s analysts have forecast a 0.9% increase on B&Q like-for-likes for 2012/2013, with £255 million in retail profit (£290 million for overall UK and Ireland operations).

A more positive forecast has been given for 2013/2014, with a 1.8% increase in like-for-likes and a profit figure of £281 million (£317 million for overall UK and Ireland operations).

Total retail profit for the global business is forecast to reach £859 million in January 2012 and £946 million in January 2013. January 2014 should see the business break through the billion pound barrier, with a £1,024 million total retail profit forecast.

The update makes no reference to B&Q’s recent announcement that it may pull out of Northern Ireland if controversial new rate levies on larger stores are imposed. In a statement les than a week ago, B&Q advised: "It remains a very real possibility that we cannot continue to trade in Northern Ireland".

Further information, including a breakdown forecast of like-for-like sales and profitability for B&Q’s global operations, can be found here: www.kingfisher.com/index.asp?pageid=79#ref_estimates

Source : Insight DIY

16 November 2011
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Paul Boyce - European CEO, QEP Ltd.
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