KINGFISHER
PBT £384m Dividend 3.18p
Véronique Laury’s plans to reinvigorate Kingfisher run on for pages, but it is clear that the newish chief executive is not getting a lot of help from the markets in which it operates.
Her strategy is simple enough. Cut down on the burdensome range carried across the group, so that basic products do not differ that much from store to store. Close loss-making outlets in Europe and about 60 B&Qs in the UK (it doesn’t take much gumption to realise that, with the increasing encroachment of digital, there are too many DIY stores on the high street). Build up the successful Screwfix operation here and in Germany. Oh, and integrate the IT systems. There is lots more about putting the