Updates

Howden Joinery

January 2021

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 shares jumped after Howden put out a strong trading update leading to broker upgrades. In the period between 14th June and 31st October the UK grew sales 12.3% (10.1% like-for-like), with demand boosted by an extended sale period thanks to a high level of stock. Gross margin was ahead of H1 levels (59.4%) but below 2019 (62.5%). In France and Belgium, like-for-like. sales rose 33.3% and 25.4%.Given strong trading, Howdens intends to repay both the £22m furlough money and £8m of business rates, with net cash forecast to increase from £267m to £309m at the year-end.Howdens expects to open 15 depots in the UK in 2020 taking the total to 747, as well as refurbishing 30 older depots.Numis has upgr ...

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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 triggers third upgrade in seven months (February 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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