Time is running out for Kingfisher to avoid another first half profit fall. That said, the weather clearly impacted on sales in March and in early April, while there was a better performance towards the end of the quarter. Also, there are many important trading months to come.
JAMES GRZINIC JEFFERIES
The market continues to debate whether Kingfisher’s gearing to a potential surge in UK housing transactions will lead to a turn in the forecasting cycle...we are struggling to conclude with some degree of confidence that we have lived through the worst of the French demand pressures.
CAROLINE GULLIVER ESPIRITO SANTO
The very poor weather in March took its toll with seasonal sales for the quarter down 10 per cent on top of the 30 per cent fall last year...The forward indicators for the UK housing market also seem to be turning positive so the sales trend should improve through the year.