Kingfisher bids for French rival Mr Bricolage April 3, 2014 EUROPE’S biggest home improvement retailer Kingfisher has bolstered its presence in France by agreeing to buy smaller rival Mr Bricolage for €275m (£227m) including debt. The B&Q owner, which makes about half of its annual profit in France, said it has entered exclusive talks to buy 26.2 per cent of the share capital from the [...]
What you need to know before the open April 3, 2014 Markets are set to open higher this morning as investors turn their eyes to the European Central Bank (ECB). Many are hoping that the ECB will take measures to tackle deflationary pressures in the Eurozone. Corporate data Vodafone has announced it will to open 150 new shops across the UK, creating 1,400 jobs. B&Q and [...]
B&Q owner Kingfisher confirms exclusive talks to buy Mr Bricolage April 3, 2014 B&Q and Screwfix owner Kingfisher has announced it’s entered exclusive talks to acquire Mr Bricolage, a French home improvement retailer. Should the deal being discussed go through, FTSE 100 company Kingfisher would initially acquire 68.1 per cent of the firm’s share capital – from the majority shareholders – making a subsequent offer to buy shares [...]
Kingfisher returns £200m to shareholders March 25, 2014 KINGFISHER, the owner of DIY chains B&Q and Screwfix, announced plans to hand £200m to shareholders as brighter prospects in the UK helped boost its full-year performance, sending shares up six per cent yesterday. Finance director Karen Witts said it will launch a multi-year programme starting with £200m in this financial year – its first [...]
Kingfisher shares climb on bumper profits March 25, 2014 B&Q owner Kingfisher is enjoying a rise in share price of four per cent after the company announced bumper profits before tax of 9.8 per cent to £759m for the year 2013/14. The company saw revenues rise 5.2 per cent to £11bn despite a difficult first quarter in 2013 and a weak economic environment in [...]
Witts joins Imperial Tobacco board February 5, 2014 Kingfisher’s finance director Karen Witts has been appointed as non-executive director of Imperial Tobacco, the owner of DIY chain B&Q said yesterday. Witts will join Imperial Tobacco’s board today with immediate effect, taking the number of women on the company’s board to three and meeting the target set out in Lord Davies’ 2011 report for [...]
Best of the Brokers for 28 January 2014 January 27, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com SMITH & NEPHEW UBS has upgraded the medical technology group from “neutral” to “buy” with a target price raised from 780p to 1,000p. The broker is impressed by the popularity of S&N’s new knee replacement, and thinks the firm’s wound care product Santyl can [...]
Weak French economy leaves Kingfisher with flat sales November 28, 2013 Kingfisher has seen flat sales for the 13 weeks ended 2 November, due to a poorly performing French economy. Profits in France dropped by 5.6 per cent over the period. The owner of B&Q and Screwfix saw like-for-like sales in France of £1.17bn. Analysts at Deutsche Bank had expected a sales increase of 0.3 per [...]
Kingfisher cuts back on space to save on costs September 11, 2013 B&Q OWNER Kingfisher said yesterday it is to scale back or exit 18 of its stores across the UK as the DIY retailer looks for ways to ease its lease burden and boost profitability. Several retailers, including Topshop owner Arcadia, have been shedding stores as leases come up for renewal to reflect changes in [...]
Kingfisher looks on bright side as sales return to growth July 24, 2013 KINGFISHER, the owner of B&Q and Screwfix, said sales bounced back in the second quarter of the year as the hotter weather sparked demand for barbecues, flowers and garden furniture. Like-for-like sales in the UK and Ireland rose 2.5 per cent in the 10 weeks to 13 July, with total sales up 5.2 per cent, [...]