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.

The emergence of the trend to â€œimprove rather than moveâ€ 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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Howden Joinery - Kitchen cabinet maker to benefit from surge in pent up investment (January 2020)

Howden Joinery - Weaker outlook provides excuse to bank profits (April 2016)

Howden Joinery - 12.8% surge in underlying sales (January 2016)

Howden Joinery - Accelerating investment pegs back shares (September 2015)

Howden Joinery - Shares prosper after favourable General Election result (July 2015)

Howden Joinery (April 2015)

Howden Joinery - Kitchen cabinets supplier enjoying rapid eps growth (February 2015)

Howden Joinery - Kitchen supplier enjoys third broker upgrade in 8 months (September 2014)

Howden Joinery - 8.5% growth in like-for-like sales (June 2014)

Howden Joinery - H2 revenues rise 10% (April 2014)

Howden Joinery - Housing boom lifts demand for kitchens (January 2014)

Howden Joinery - UK depot sales up 5.5% (September 2013)

Howden Joinery - Gain to date: 74% (April 2013)

Howden Joinery - Low cost, high returns model for supplier of kitchens to local builders (August 2012)

Howden Joinery - Sales still growing well (June 2011)

Howden Joinery - Introduce stop-loss of 105p (May 2011)

Howden Joinery - Current trading still strong (April 2011)

Howden Joinery - Kitchen supplier likely to smash forecasts (December 2010)

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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