Annual Report and Accounts 2007/08
Our aims
Our aim is to deliver a step-change in value by focusing on three key priorities:
Management
A new senior team, working within a new management structure, will have collective responsibility for overall Group delivery of results as well as key existing cross-Group activities.
Capital
Investment will be reprioritised, targeting higher hurdle rates and faster payback periods. A key target is to stabilise debt at current levels, prior to reducing it in due course. A target of flat net debt has been set for the current year.
Cash returns
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 up.
Ian Cheshire
Group Chief Executive
Kingfisher plc
For further details, see the Group Chief Executive’s statement
Kingfisher plc is the leading home improvement retail group in Europe and Asia and the third largest in the world.
Kingfisher operates 780 stores in nine countries in Europe and Asia, with leading market positions in the UK, France, Poland, Italy, Turkey and China, as well as developing businesses in another three countries.
