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National Grid PLC (LSE:NG.), Associated British Foods PLC (LSE:ABF) and Kingfisher PLC (LSE:KGF) are among the companies acting as a drag on the FTSE 100 on Thursday, as part of a busy batch of blue-chip stocks trading ex-dividend.

Deutsche Bank reiterated its “sell” rating on Kingfisher PLC (LSE:KGF) after the DIY retailer reported first-quarter sales broadly in line with expectations and maintained full-year guidance. The B&Q and Screwfix owner said it still expects adjusted pre-tax profit of £565 million to £625 million for the 2026 financial year, compared with market forecasts of £589 million.

Screwfix tools posted 4.1% like-for-like sales growth, but the home-improvement retailer said results overall were hurt by the late start to spring hitting footfall.

B&Q and Screwfix owner Kingfisher PLC (LSE:KGF) saw sales shrink in the first quarter compared to last year but said it remains on track to meet full-year guidance. The DIY retailer, which also owns Castorama and Brico Dépôt in France, reported underlying like-for-like sales down 0.7% in the three months to 30 April, while total sales rose 1.4% to £3.3 billion.

Kingfisher plc (KGFHY) Q4 2026 Earnings Call Prepared Remarks Transcript

Kingfisher plc (KGFHY) Q4 2026 Earnings Call Transcript

Kingfisher PLC (LSE:KGF) has rewarded investors with a fresh share buyback programme after it increased annual profits 6% last year and eyes further improvements. The FTSE 100 retailer, which operates the B&Q and Screwfix chains, made adjusted profits of £560 million in the year to 31 January 2026, above the middle of the guidance range of £540-570 million set out in November, driven by stronger sales volumes, wider profit margins and tight cost control.
