RICHARD HUNTER HARGREAVES LANSDOWN
The inadvertent leak of the positive surprise has today been confirmed by Kingfisher, which has enjoyed a 35 per cent hike in profits. Good weather, the removal of competition such as MFI, a close eye on cost and stock control and the revamping of its offerings have all helped.
MATTHEW MCEACHRAN SINGER CAPITAL
We believe that many of the factors behind this strong performance are ‘continuing’ in nature and not necessarily one-off or driven by the seasonal trading conditions, although clearly the spring weather has helped.
DAVID JEARY INVESTEC
The upgrade momentum of the business has been very impressive over the past 12 months. Our view on Kingfisher remains tempered by our continued concerns on France and the rate of recovery in China, although the news on cost savings and store closure provides some comfort.