B&Q owner Kingfisher has published first quarter results this morning and the business remains in the throes of its strategic turn-around plan. Bad weather across Europe impacted sales in the first few months of the year, as did weak consumer demand in the UK. This is arguably as much a warning bell for the nation’s economy as it is for investors. Long term success here is – as we’ve said about other retailers this week – very much reliant on the successful execution of strategic review.
Full year numbers from United Utilities this morning seem to have few surprises in them. Key metrics have all come in at the upper end of expectations and the company says it is well positioned going into the next regulatory review. Post tax profits have taken something of a beating from last year, but investors are still being rewarded with a 2.2% increase in dividends.
Half year results from media group DMGT and again consumer behaviour is in the spotlight. Whilst its business to business operations have fared well, consumer media is facing a challenging time with expectations for the year being that the decline will continue. The company is set to profit to the tune of £640 million from the recently reported sale of ZPG, the company behind Zoopla, which will no doubt help strengthen the balance sheet as the economic climate remains challenging.