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Howden Joinery

September 2020

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.

Although kitchen cabinet and worktop supplier Howden’s results for the 4 weeks to 13th June paint a gloomy Covid-19 affected picture, with revenues down 29% to £465m and a loss before tax of £14.2m versus a pretax profit of £78.1m at the same stage a year ago, the narrative has moved quickly on to the recovery phase. Its latest four weeks to 11th July show UK sales rising 2.2% and by 0.3% on a same depot basis, with its store estate having now re-opened post lockdown. The group is in good shape with net cash of £253.4m (28th December ’19: £267m cash), albeit it has been assisted by £76m support from Government schemes such as staff furloughing and tax deferrals. During ...

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

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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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Howden Joinery

September 2020

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