FTSE rallies on strong corporate news March 25, 2011 Strong corporate earnings data have pulled stocks back to levels prior to Japan’s earthquake and tsunami crisis today despite fresh unrest spreading in the Middle East. The FTSE 100 closed up 0.34 per cent at 5,900.76 as traders bought into undervalued stocks and positive broker notes while remaining unfazed by geopolitical issues. “The speed of [...]
Kingfisher in plan to boost global growth March 24, 2011 KINGFISHER yesterday unveiled a five-year plan to transform the business with massive growth and a campaign to breathe new life into the flagging UK DIY market. The bold blueprint was unveiled as the B&Q owner reported a 22.5 per cent rise in pre-tax profits to £670m in the year to 29 January. However total sales [...]
Kingfisher in profit boost February 17, 2011 B&Q owner Kingfisher yesterday forecast a 20 per cent rise in annual profits after strong overseas growth offset weak trading in the UK. The group said it expects adjusted pre-tax profits for the year ending last month to be at the top end of City expectations at £672m. Strong sales in countries such as Poland [...]
Ian Cheshire to join the DWP board as non-exec January 31, 2011 IAN Cheshire has been appointed as the lead non-executive member on the Department for Work and Pensions (DWP) board. The outspoken Kingfisher chief executive is no stranger to politics. He threw his weight behind a high profile campaign by the Tories to reverse a hike in National Insurance, proposed by Labour before their election defeat. [...]
Cheshire joins Whitbread to replace Tesco bound Clarke January 27, 2011 WHITBREAD has appointed Ian Cheshire, pictured left, as a non-executive director to replace Philip Clarke. The pub group said yesterday Clarke, pictured right, will be stepping down from the board when he takes up the chief executive role at Tesco in March, replacing Sir Terry Leahy at the supermarket giant. Cheshire, who will start his [...]
Focus owners seek financial help or a sale October 31, 2010 THE owners of the UK’s fourth-largest DIY chain Focus are looking to investment bankers to advise on the future of the heavily debt laden business, which could lead to a sale. US based private equity firm Cerberus is taking advice from Lazard on the future of Focus, and is in talks with its banks about [...]
Kingfisher in warning over tough times September 16, 2010 KINGFISHER yesterday said that it had beaten its first half profit forecast – but the home improvement giant warned that consumer confidence would not be fully restored until at least 2012. The B&Q owner made a pre-tax profit of £354m in the 26 weeks to 31 July, which it achieved through cost cutting rather than [...]
Kingfisher sees sales dip as UK stores struggle on July 22, 2010 B&Q owner Kingfisher said yesterday it was on track to meet first-half profit expectations, with cost cutting and business improvement measures offsetting a dip in underlying sales. The firm, which runs Castorama and Brico Depot chains in France said sales at stores open at least a year fell 0.8 per cent in the 10 weeks [...]
Kingfisher sales drop offset by cost-cutting July 22, 2010 B&Q owner Kingfisher said it was on track to meet first-half profit expectations, with cost cutting and business improvement measures offsetting a dip in underlying sales. The firm, which also operates the Castorama and Brico Depot chains in France, said sales at stores open at least a year fell 0.8 per cent in the 10 [...]
B&Q looks to World Cup to kick-off sales June 3, 2010 B&Q owner Kingfisher said yesterday it was pinning its hopes on the World Cup to fuel a sales rise after a first quarter blighted by poor weather. The group said it had almost sold out of a garden gnome dressed in the England team kit ahead of the tournament and was also selling wheelbarrows and [...]