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Dunelm

March 2012

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:
  • 509p
Specialist out-of-town homewares chain Dunelm noted a resilient H1 with sales up 8.8% (1.1% like-for-like) across the 26 weeks. In Q2, against snow-ravaged comparatives, it achieved 11.7% sales growth with 3.8% like-for-like. Gross margin improved 0.1% and for the year as a whole is expected to be broadly in line with the previous year. Dunelm opened 11 new superstores in H1 to leave 113 open at the period end, while net funds were a healthy £40.4m as at 31 December. Dunelm now anticipates H1 pretax profit to be £52m. As a result, latest 2012 forecasts from Peel Hunt are for pretax profit of 92.1m and eps of 33.1p. Hold. ...

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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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