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The week ahead: Kingfisher and Home Retail Group to update

Wednesday 10th September:
Kingfisher will update the market with first-half results midweek, which should provide some clarity after a challenging second quarter.

Analysts' expectations: Deutsche Bank analyst Warwick Okines reckons retail profit will fall to £374 million, with adjusted pre-tax profit totalling £348 million, both 5 per cent under last year's levels.

France is still expected to be challenging for the group, but Okines thinks the focus will remain on B&Q plans.

Thursday 11 September:
High-street fashion retailer Next will report its first-half results on Thursday, and the focus is expected to be on any further upgrade to profit forecasts and strategies to boost growth.

Analysts' expectations: Despite strong sales, Deutsche Bank analyst Charlie Muir-Sands predicts Brand gross margin to fall slightly, but thanks to strong operating leverage in retail, Brand's earnings before interest and tax margin should expand by 120 basis points.

'We therefore forecast a £54 million increase in first half pre-tax profit and 24 per cent growth in basic EPS (to 175.8p) and DPS, mainly on lower share count. Management is also likely to reiterate or revise full-year pre-tax profit guidance, depending on the last five weeks of trading and any change to the outlook,' he says.

Thursday will also see Home Retail Group issue a second quarter trading statement.

Source : The Telegraph

08 September 2014

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