Wednesday preview: Kingfisher reports full year results

22nd Mar 2016 13:10

(ShareCast News) - Home improvement retailer Kingfisher reports its full year results on Wednesday, with analysts pencilling in a 4% drop in pre-tax profit to £688m amid a restructuring.The owner of B&Q and Screwfix is preparing to face increased competition from Homebase following its sale by Home Retail Group to Australian business Wesfarmers.However, analysts at Numis said investors are likely to pay more attention to the Easter trading backdrop."Since the third quarter results, details have been provided of the strategic and financial aspects of this, which will lead to significant implementation costs and higher capex, but which the company hopes will lead to much higher levels of long-term profitability," Numis said."The shares have performed in line with the sector over the past 12 months, having recovered recently due to the strength of the euro (40% of profit)."In early December, the company reported third quarter retail profit of £223m, down 6.6% on a reported basis but up 0.4% as constant currency rates. Kingfisher said £5m of additional store development activity in France and Poland compared to last year cut into retail profit."Q3 trading conditions have followed a similar trend to the first half of the year, reflecting the more encouraging macroeconomic backdrop in the UK offset by a softer market in France," chief executive Veronique Laury said at the time. Wednesday 23 March INTERIMS DFS Furniture, Tracsis INTERNATIONAL ECONOMIC ANNOUNCEMENTS Crude Oil Inventories (US) (14:30) New Home Sales (US) (14:00) GMS Telecom Egypt SAE GDS (Regs) FINALS Anglo Pacific Group, Burford Capital , Kingfisher, Lamprell, Phoenix Group Holdings (DI), Quixant ANNUAL REPORT IMI, Morgan Sindall Group, PJSC RusHydro ADR AGMS Amino Technologies, Blackrock Throgmorton Trust, GW Pharmaceuticals, IMI, Pinnacle Technology Group, Premier Veterinary Group , RM, Safestore Holdings, St. Modwen Properties UK ECONOMIC ANNOUNCEMENTS BBA Mortgage Lending Figures (09:30) CBI Industrial Trends Surveys (11:00) Public Sector Finances (09:30) FINAL DIVIDEND PAYMENT DATE Lancashire Holdings Limited FINAL EX-DIVIDEND DATE Computacenter.