Kingfisher's Sale of Brico Romania Should Improve Focus -- Market Talk

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Kingfisher's Sale of Brico Romania Should Improve Focus -- Market Talk

Dow Jones2024-12-18

0905 GMT - Kingfisher's sale of Brico Depot Romania is slightly positive news given that the business is loss making and represents only 2% of the group's total revenue, RBC Capital Markets analysts Richard Chamberlain and Manjari Dhar say. The deal comes as the home-improvement retailer is struggling to scale the business and faces a challenging backdrop, and is likely part of Kingfisher's long-term strategy to review non-core businesses that are loss making, they say. The divestment should allow the company to focus more on markets and growth initiatives where it is better positioned to deliver attractive returns and create shareholder value, they add. Shares are up 1.15% at 255.6 pence. (michael.susin@wsj.com)

(END) Dow Jones Newswires

December 18, 2024 04:06 ET (09:06 GMT)

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