1107 GMT – Kingfisher performed well during the pandemic and is currently benefiting from increased sales of energy-efficient products as consumers face a surge in bills, head of investment at Interactive Investor Victoria Scholar says in a note. The home-improvement retailer continues to gain market share, with a strong presence in Poland and rollout in France, Scholar notes. “Kingfisher continues to focus on competitive pricing to offset pressures on the consumer from the cost-of-living crisis with a focus on its cheaper own-brand products”, Scholar adds. (email@example.com)
Gateley’s 1H Seen as Reasonable, But Suggests Struggle With Costs
1021 GMT – Gateley’s brief update suggests a reasonable performance in 1H, but the company’s earnings are typically weighted toward 2H, Shore Capital Jamie Murray says in a research note as shares rise 1.7%. The legal and professional services group’s 1H revenue and adjusted pretax profit represents 47.6% and 39.0% of Shore’s forecast for FY 2023, respectively, the analyst says. “Revenue appears to be in line with our numbers, but adjusted pretax profit is slightly below which indicates the group is struggling to contain its costs effectively,” Murray adds. Shore has a hold rating on the stock. (firstname.lastname@example.org)
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(END) Dow Jones Newswires
November 24, 2022 07:08 ET (12:08 GMT)
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