Steve Davies Quotes (11 Quotes)

News on current trading is pretty encouraging.

With such limited upfront investment, we believe that it is at least worth a shot.

We were expecting (it) to be strong but today's announcement is well ahead of expectations.

MVC has always been one of the weaker players in the market, so it is dangerous to draw too many conclusions from this specific situation, but it does back up our view that these markets are becoming increasingly difficult.

Outside its two major markets, Kingfisher reported very strong growth in Poland (against weak comparatives) and good performances in Italy and China.

This has not been confirmed by the company, but it should be good news for the share price.

There may be some short-term disappointment today that investors are going to have to wait until the end of 2006 at the earliest for this separation to take place.

Our store visits suggested that the company's various fascias were discounting earlier and more heavily than the competition and that is rarely a good sign at this time of year.

We suspect that the shares will probably mark time until either another bidder emerges, which seems unlikely, or the merger gets through the competition authorities.

Given the risks involved it is difficult to see why the shares should trade at a higher multiple than this.

Management has developed a good knack of over delivering on its strategy so far and that gives us significant confidence going forwards.