DIY disaster could force B&Q chief out of her job

Veronique Laury’s future as chief executive of B&q owner Kingfisher looks increasingly uncertain after analysts asked if time was running out for the FTSe 100 boss.

Investment bank Stifel downgraded the DiY group, suggesting shareholders were losing confidence in her five-year transformation plan.

Laury, 53, joined Kingfisher in 2015 and has been racing to reduce costs, improve its iT system and integrate the products sold across the entire business. it also owns Screwfix and international brands Brico Depot and Castorama.

But Stifel suggested that shareholders now think Laury’s ambitions to achieve £500m in additional profits in less than two years are unachievable. She is now more than halfway through the transformation plan.

Analysts at the bank blamed poor planning and an out-of-date DiY business model for the group’s woes. Stifel has now urged the board to take action on management ahead of Kingfisher’s full-year results next Wednesday. The company’s shares fell 0.6pc, or 1.3p, to 223.8p. Shopping centre owners Hammerson and Intu both fell after a report by Liberum issued a disappointing outlook for the retail property sector.

it forecasted a 20pc decline in retail values across the two companies’ portfolio over the next two years. The grim forecast follows Hammerson’s botched attempt to buy intu for £3.4bn last year.

Hammerson fell by 1.1pc, or 4p, to 374.8p. intu was down 1.1pc, or 1.2p, to 110.25p.

G4S, the world’s biggest security firm, was the biggest faller on FTSe 250 index, down 4.6pc, or 9.3p, to 194.5p, after its price target was slashed by rBC.

The brokerage blamed ‘ messy’ results for the downgrade and said it was sceptical of a plan to separate its cash business.

on the up was insulation and roofing firm SIG, with the biggest gains on the FTSe 250 after it was boosted by a Stifel research note. Analysts lifted their price target to 130p from 116p, sending shares up 6.9pc, or 9.1p, to 141.2p.

Meanwhile, oilfield services provider Petrofac jumped 4.5pc, or 20.8p, to 486.3p, after it won a £760m project in Algeria.

A ‘ buy’ recommendation for online travel firm On The Beach lifted shares by 4.9pc, or 19.5p, to 415.5p. Analysts at Liberum said the market has undervalued the company’s potential and slapped a 560p target price on the stock.

on The Beach has been expanding overseas amid a boom in demand for budget holidays.

Liberum said its new products and overseas expansion gave it ‘a long runway for the future’. Cigarettes giant British American

Tobacco fell 3.4pc, or 106p, to 2980p, after the uS Food and Drug Administration revealed draft rules which could see flavoured ecigarettes removed from convenience stores across America.

rival Imperial Brands also fell 1.8pc, or 47p, to 2583.5p. The two firms have been investing heavily in alternatives to traditional tobacco products, such as battery-powered vapour products.

Domino’s Pizza fell after Liberum raised concerns about its international prospects and the dispute with franchisees which run its outlets. Franchisees have been dragging their heels on new store openings as they demand a bigger share of Domino’s profits.

Analysts said: ‘We do not feel the market fully appreciates the situation Domino’s finds itself in. Debt is high and it may find that it has backed itself into a corner.’

Liberum said the row ‘remains a crucial debate as to how Domino’s returns to a sustainable growth model’. Shares fell 3.4pc, or 8p, to 226.7p.