Financial PerformanceKGF shares rose +11% post a H1 profit beat, +2% FY PBT guidance upgrade, and a sizable increase in FY FCF expectations.
Profitability ImprovementThe disposal of a loss-making business is seen as a pragmatic decision from Kingfisher, providing upside potential to profit expectations.
Strategic FocusKingfisher announced the sale of its Romania business, Brico Dépôt Romania for £58m, which will allow the business to have greater strategic focus on markets where it is most strongly positioned to deliver returns.