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Article: Sizzling results from Kingfisher.
- Article from:
- Investors Chronicle - magazine and web content
- Article date:
- September 21, 2009
CopyrightCOPYRIGHT 2009 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: John Hughman
TIP UPDATE: Kingfisher has revealed decent figures, but its bumper profit growth has more to do with a barbecue summer than any meaningful housing market recovery.
Having accidentally been treated to a sneak preview last week, analysts were unsurprisingly quiet in the wake of the official announcement of better-than-expected half-year results from Kingfisher.
After an inadvertent leak to sector analysts, the DIY retail group was forced to release indicative figures, which said that underlying pre-tax profit would be between GBP285 and GBP290m. So it was no surprise that the actual pre-tax profit was bang in the middle at ...