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Dunelm - 21.5p special dividend

April 2010

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • DNLM
  • Price:
  • 365p
The obvious highlight of Dunelm's interim results was an unexpected 21.5p special dividend. Results themselves were as expected with revenues up 26% to £254m, pretax profit increasing 69% to £46.2m and eps ahead 67% to 15.9p. Net cash was £59m. In the seven weeks to 20 February, like-for-like sales grew 6% adjusting for the timing of the winter sale, while gross margins are 200 basis points up. Trading has been helped by a move into new product categories, including arts & crafts, cleaning & laundry and furniture, while store expansion is still increasing at a merry rate with six new superstores opened in H1 and a further five anticipated later this year. Eps forecasts are broadly unchanged, with Oriel expecting ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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