Kingfisher Consensus Forecasts Tipped to Edge Lower1045 GMT - Kingfisher's third-quarter trading update was reassuring, though the home-improvement retailer trimmed its top-end 2022/23 guidance slightly on the back of higher costs, Citigroup says. Kingfisher now expects adjusted pretax profit in the year to the end of January to be between about GBP730-760 million, versus its previous guidance of GBP730-770m, Citi says. (philip.waller@wsj.com)Companies News:Kingfisher Cuts FY 2023 Profit Views Amid Higher InvestmentsKingfisher PLC said Thursday that profit for fiscal 2023 is expected to be lower than previously guided as the company increased investments and expenses. On top of this, Jet2 faces a profit margin squeeze from factors including higher wage and fuel costs, he notes. "We see Jet2 as significantly undervalued given encouraging trading and forward bookings, and reiterate our buy rating," the U.K. brokerage says.

Source: Wall Street Journal November 25, 2022 00:12 UTC