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Mercantile (MRC) manager Guy Anderson has increased exposure to Dunelm (DNLM), which he says has continued to strengthen its competitive position.
In the investment trust’s interim results, the manager of the £2.1bn portfolio of UK stocks said during the economic recovery it has ‘aimed to position the portfolio such that it will continue to benefit from many of the longstanding structural growth opportunities’. It has also upped exposure to businesses which should emerge stronger after the coronavirus pandemic ‘with a competitive position and thus the opportunity to accelerate ahead of their peers’.
One of these stocks is homeware retailer Dunelm, which Anderson said had ‘further extended its category-leading position…by delivering a compelling product offering through a much-improved multi-channel experience’.
Shares in Dunelm closed down 1.2%, or 16p, at £12.91 on Wednesday, having now fallen back below their pre-Covid peak after an up-and-down year.
Seems to bounce off 13 , B&M are leading the way. I think we will start to climb the broker ratings are so far above our S.P the gap must start to close soon .
Best in class and great set of results and we are sitting mid 12 s . I am hoping for a rise next week into ex divi day . Crazy world . Broker ratings are pretty much a buy with target prices north of 15 .
Business is booming and yet the share price responds by going down. The stock market never fails to suprise.
Also piece in the Times today-
Key points-
‘Underlying revenue growth is expected to ease — analysts expect a rate of 9.5 per cent this year, falling to between 5 per cent and 6 per cent in 2023 and 2024. Then again, that level of top-line growth trumps what’s expected of Marks & Spencer, DFS or even Kingfisher ‘
‘Higher capital expenditure means that the special payment is expected to be lower this year, with analysts at Berenberg predicting a total dividend of 74p a share. If that’s right, it would leave the shares offering a potential dividend yield of 5.7 per cent at the present £12.98 share price, while satisfying a reassuring target dividend coverage ratio of between 1.75 and 2.25 times by earnings.’
' A higher earnings multiple than some other peers is justified by superior cash generation and a better dividend'
Homeware retailer Dunelm (DNLM) has delivered another strong quarterly update and Peel Hunt says it will continue to outperform.
Analyst John Stevenson retained his ‘buy’ recommendation and target price of £17.50 on the stock, which slipped 0.2%, or 2p, on Thursday to close at £12.98.
The group reported 8.3% sales growth in its first-quarter update, covering late June to late September, and Stevenson said it was ‘well placed to keep outperforming’.
‘Dunelm’s focus on the core offer and the customer is yielding very positive results, with growth in active customers, market share, and a clear opportunity to drive greater share of wallet and frequency,’ he said.
‘Dunelm is trading on 18x price-to-earnings ratio, on our forecasts, a discount to structural growth peers such as Pets at Home (PETS) and JD Sports (JD).’
yes looks like DNLM would have good day today
Berenberg has initiated coverage on Dunelm (DNLM), which the broker says is the standout performer in UK homeware retail, with recent share price weakness offering an ‘attractive’ entry point.
Analyst Thomas Davies initiated coverage with a ‘buy’ recommendation and target price of £16.20 on the stock. The shares closed down 1.3%, or 17p, at £12.52 on Monday, extending a slide over the last month.
‘We expect Dunelm to continue its market share consolidation, outperforming the market – with its well-invested omnichannel proposition providing a competitive advantage over its digital peers,’ said Davies.
The analyst said the stock offered ‘one of the [strongest] return on invested capital profiles in European retail’ and its cash-generative business ‘should support additional capital returns’.
‘We believe that the recent downturn in the share price has provided an attractive entry point into a structural winner,’ he added.
Every time Dunelm updates the market the pps heads towards £15, I see no reason to believe this Thursdays update will be any different.
I’m invested elsewhere so the results won’t effect me.
Do your own dd
me too another 5k anything in the 1200s is a no brainer plus another ex divi on the 28th this is a well run profit making business
and is going from strengh to strengh every year price may rise due to transport and energy cost but that will affect every sector.gla
I topped up yesterday, should have held off for a day....
Q1 trading update this time next week.
Autumn Sales started -just bought another £3k - bargain imv.
Day before xdividend daily rsi was oversold at 82-above 70 Upper Limit- do you think this could strengthen the case that its more likely to fall to say 1300's and rsi gets to 30 before it starts to go backup to 1500's again specially with trading update announced on Oct 14th?
No Taverhan mate, only 65p special dividend gone ex today. The final dividend of 23p will go ex on Oct 28. The SP closed down 65p, which means unchanged if the special dividend added on.
0.65p special
Taking account of the £1 divi sp actually up today!
Interestingly sp should in theory be going up on the day/s before going xdivi but dunelm was down by some 2% few minutes ago!
Just out of curiosity how much do you think the sp will tank on the xdivi day tomorrow, total divi is 65 p?
Whilst the housing market booms this will boom. Reduced competition from the demise of debenhams and the out of town locations are both positives here. I will not sell below £17. [Hope I live long enough lol.]
Ian Bull non executive director buys 4K shares @ 1422
Quite a bullish purchase after the recent rise.
No doubt we will see 15 plus pre ex special divi . Great bounce back today and B&M staying strong as well . Barclays maintain overweight at 1775 today .
no comment... Like I said just look at their online platform - just do some google searches on growth of ecom platforms
if they invest more into their ecom offering then might be worth a LTH
otherwise I see these guys getting share snatched from them by the super heavyweights soon
all IMO - I will leave now :)
Next update due in a few weeks which will keep the interest going . Trading update due 14th October. Re reading yesterday’s update I think we can easily expect another stonker
Let’s see what the broker ratings make of the latest update. All positive . This has got to push through 15 on improved market sentiment. 100 p divi due before end of October
Dunelm (DNLM) is delighting investors by dishing out dividends and, unlike its retail peers, seems to have avoided supply chain issues.
The shares jumped 12.8%, or 165p, to close at £14.51 after the homeware retailer announced it was returning £178m to shareholders after enjoying sales of £1.3bn in the 2021 financial year, up from £1bn in 2020.
Dunelm enjoyed a bumper year despite physical stores being shut for more than a third of the period as online shopping picked up the slack.
AJ Bell analyst Russ Mould said: ‘Dunelm has been busy restocking its warehouses after strong demand in its 2020 financial year ran down stockpiles, and it seems to have escaped any problems [on the supply] front.
‘It pays close attention to stock levels to ensure it can meet customer demand and management has also been working hard to mitigate inflationary cost pressures from raw materials, freight costs and driver shortages across its industry.’