Kingfisher, Dignity and Travis Perkins


Here are three things you need to know about the financial markets this morning from investment writer Tony Cross.

# 1. Kingfisher increases second half sales forecast

Kingfisher [LON:KGF], owners of B&Q and Screwfix, this morning released interim results for the six-month period ended July 31. Sales are up nearly 20% while operating profits are up over 50%. This means that shareholders will be rewarded with an increase of almost 40% in the interim dividend. The company notes that e-commerce has performed exceptionally well and is benefiting from a new generation of tinkerers, likely a consequence of pandemic lockdowns. Sales forecasts for the second half of the year have been revised upwards.

# 2. Dignity dividend remains suspended

Funeral service provider Dignity [LON:DTY] today published its intermediaries for the 26 weeks until June 25. The tone of the note appears to be weighed down with death rates falling and a discussion of regulatory changes in the evidence as well. The dividend remains suspended until the capital structure of the company is strengthened.

# 3. Travis Perkins announces special dividend and share buyback

A word from Travis Perkins [LON:TPK] who completed the sales process for its plumbing and heating division, a sale in progress since May. Shareholders are in line for a windfall with a special 35p per share dividend and a £ 100million share buyback program, together representing around half of the £ 325million made with the sale.

Related

About Catriona

Check Also

Jingrui struggles to explain the disappearance of bank deposits

PwC was told the bank had no record of receiving the confirmation letters (Source: Getty …

Leave a Reply

Your email address will not be published.