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B&Q, DFS, Next and Screwfix to report on trading this week

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City traders believe that B&Q and Screwfix owner Kingfisher will reveal a 4% decline in pre-tax profit - a figure in the region of £688m - when it reports its preliminary full-year results this Wednesday. It is also expected that Kingfisher will reveal more about its programme of store closures and update on the progress of CEO Veronique Laury’s ‘ONE Kingfisher’ strategy.

Earlier this month, Laury is reported to have said that Kingfisher does not see the takeover of rival Homebase as a threat, so it will be interesting to see if any further reference is made about the retailer which is now owned by Australian conglomerate, Wesfarmers, which is the largest private sector employer in Australia and has a market valuation of nearly £22bn.

Next is expected to report lower-than-expected yearly profits in Thursday’s update, following January’s announcement that said the retailer was reducing its full-year profit forecast from £827m to £817, citing mild winter weather for the disappointing 0.5% decline in festive sales performance.

Furniture retailer, DFS, also reports on Wednesday and is expected to reveal EBITDA growth of 10.7% to £30.5m in its half-year figures.

Source : Insight DIY

21 March 2016

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