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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Primary Recommendation

Howden Joinery - Kitchen supplier triggers third upgrade in seven months

February 2011

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:
  • HWDN
  • Price:
  • 115p
The emergence of the trend to “improve rather than move†has led to unexpectedly strong kitchen sales data from both B&Q and Wickes, respectively owned by FTSE-100 stalwarts Home Retail (HOME; 225p) and Travis Perkins (TPK; 1115p). However, the share that we believe has the greater potential is Howden Joinery, a constituent of the FTSE-250 and a market leader in the supply of kitchens and doors to local builders. By avoiding the need to sell direct to the consumer Howden has been able to roll out a nationwide chain of industrial depots that are inexpensive to erect and situated in cheap locations and its reward has been impressive profit growth, high returns on capital and strong cash generation. With its underlying ...

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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.

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