Analyst Views: Did Kingfisher’s strong results mask any underlying concerns?
RICHARD HUNTER | HARGREAVES LANSDOWN
Kingfisher is running a tight ship and even before yesterday’s reaction, the share price had risen 41 per cent over the last year. Market sentiment has tended to be guarded given the French exposure, but consensus has recently nudged up to a buy, and is likely to remain anchored after these generally impressive numbers.
FREDDIE GEORGE | CANTOR FITZGERALD
The final results were above consensus helped by a better than expected performance in international markets but in-line with our expectations. It appears to be continuing to underperform Homebase in the UK and has seen little benefit from an improving housing market while the French DIY market remains subdued.
TONY SHIRET | ESPIRITO SANTO
Kingfisher has produced a better UK sales performance in the fourth quarter within a more mixed overall picture. We retain our negative rating …on continuing concerns over the absence of a coherent strategy to combat entrants in the discount and specialty online segments of the UK market.