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Financial Management Master - Case Study Example

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Kingfisher plc is a General Retail Company specialized in home improvement products. Kingfisher plc is the leading hone improvement group in Europe and Asia and the third largest in the world. The company operates 780 stores in nine countries in Europe and Asia with leading market positions in the UK, France Poland Italy and China as well as developing other businesses in another three countries (Kingfisher's annual report 2007/08).
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Financial Management Master Case Study
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Download file to see previous pages It prides itself in the following retail brands: B&Q; Castorama; Brico Depot and Screwfix. Progressively, the company has been faring pretty well over the years, consequently scooping a pre-tax profit of three hundred and eighty six million pounds generated from a total sale of over nine billion pounds within the first quarter of the 2008 financial year (kingfisher.com).
Investment will be reprioritized, targeting higher hurdle rates and faster payback periods. A key target is to stabilize debt at current levels, prior to reducing it in due course. A target of flat rate debt has been set for the current year.
Greater focus will be placed on generating higher cash returns from the retail businesses. Stretching targets for sales growth, margin improvement and cost reduction will be drawn (http://www.ekingfisher.com/managed_content/files/downloads/2008ar.pdf ).
With these key priorities it is evidenced that the management of kingfisher are committed to the survival profitability and sustenance of the company which is a very good indication of share prices increasing.
The market for the product is very lucrative since home improvement is an attractive segment of retail, benefiting from natural long- term demand. Characteristics coupled with demand for more new housing and more frequent home renewal. The market also benefits from variety of products being common across international market, which gave rise to outsourcing and Economics of Scale; but within this market kingfisher is enjoying a large geographically diversified business. However, delivering these values to shareholders from this strong strategic position ill require the charges which have been talked about.
The number of shares opened by the Company in various Countries will enhance the profitability base of kingfisher. This is enhanced by the management by the practice of decentralized management approach which gives power to their retail businesses largely operating independently but participating in group- wide programs for local advantage. This approach will enhance high turnover as local customers will adapt to the products.
Operating Review of Kingfisher Plc
With Retail profit growing rapidly for the past five years it has put the company in a good position to expand its operations in various sectors of the business. For example in 2007/2008 report of kingfisher retail profit grew 13.2% to 237million pounds with both businesses delivering a good profit growth. Gross margins were up90 basis points due to higher own- brand sales penetration, a 25% increase in direct sourcing and an improved sales and strong cost control. In France for instance kingfisher's total sales grew 7.2% and eight new shares were opened and in the year six were ...Download file to see next pagesRead More
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