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Could be 3.6p per share .
Profit takers perhaps ?
The kitchen specialist has a strong track record of generating sales growth, with its top line rising from £854m to £1,307m over the last five years. Profits have also expanded at a formidable rate, with earnings per share climbing from 13p to 29p in that time. The company published a trading update today for the period 12 June to 28 October and indicated that it has seen a “good trading performance” recently, and that it remains on track to meet the board’s expectations for the year. Revenue for the period increased 8.2% on last year, driven mainly by volume growth, and was up 6.3% for the first 44 weeks of 2017. The company noted that it has added 16 new depots so far this year and that it is planning to open more before the end of the period. The market is clearly impressed with the update, with the shares rising 7% today. Looking at the company’s valuation, Howden appears to offer value, in my view. With analysts forecasting earnings of 28p for this year, the stock trades on a forward P/E ratio of 16.1, which I believe is reasonable given the company’s growth history. A prospective dividend yield of 2.5% also sweetens the investment case. While Brexit adds an element of uncertainty in the short term, I believe the long-term investment case here is compelling.
What's certain is that HWDN have increased market share. Very successful Period 11 judging by Linked In messages from Depot staff. Continues to grow UK market , probably to hit 700 depots in next two years and exciting European opportunities being explored. A safe and steady bet in my opinion
Here is today’s Trading update. Howden Joinery Group Plc (‘Howdens’) today publishes a trading update for 12 June 2017 to 28 October 2017 (Period 7 to Period 11). Howdens has seen a good trading performance, including during the important October trading period (Period 11). The company remains on track to meet the Board's expectations for the full year, while noting that the two remaining trading periods together typically account for more than 10 per cent of annual revenue. Trading Howdens UK depots’ total revenue for Periods 7 to 11 increased by 8.2% on the comparable periods in 2016. The increase in revenue was driven mainly by volume growth and also reflected the slowdown in revenue growth reported during the second half of 2016. In the first 11 periods (44 weeks) of 2017, total revenue in the UK increased by 6.3% and by 4.4% on a same depot basis, while gross margin performance has been in line with management expectations. Other developments Howdens UK has opened five new depots since the July 2017 half year report, resulting in 16 new depots added so far this year, taking the total depots in the UK to 658. Howdens expects to add around 20 new depots in the UK in 2017. Howdens has acquired 8.6m shares since July 2017 as part of the £80m share buyback programme announced on 23 February 2017. In total, 11.2m shares have been acquired in 2017, for a consideration of £47.9m.
A great set of results announced today. In recent weeks the likes of Travis and Nobia have announced results going in the opposite direction. With more depots to open between now and year end and a further 20 next year the potential growth is clear.
Unlike others in this sector Howdens has a broad customer rather than a few big contracts. So although hit by the announcement about the slow down the reflection in price seems over egged. The builders this business focuses on will still keep churning out demand for kitchens.
construction industry shares hit by release of data by ONS. construction output has dropped for 4th month in a row.
My first post on this holding. Has anyone noticed the share drop - SP now 407.70.Investigating I see HWDN receives a 453.60 target (9 hrs ago)and 20 hrs ago Zacks upgrade HWDN to a "strong buy". Am I missing something here or is it that these analysts like to hear the sound of their own voices?
Although Mathew has done a sterling job holding a steady ship through the build of Howdens UK depots to its current 600+ Position its a great time for a fresh man at the top. Real opportunity exists in my opinion to drive further value in Howdens business and it will be interesting to see if elements of the screwfix style model can be developed into the existing supply solution which Howdens operates.
The founder of FTSE 250 joiner and kitchen supplier Howden Joinery will retire as chief executive next year after 22 years at the company. Matthew Ingle will be replaced by Andrew Livingston, the chief executive of Kingfisher’s Screwfix division. After stepping down, Mr Ingle will become Howdens’ honorary lifetime president. https://www.ft.com/content/85aaec2e-6755-3652-b054-5ee0ce9c130c
The directors propose a final dividend in respect of the 52 weeks to 24 December 2016 of 7.4p per share, payable to ordinary shareholders who are on the register of shareholders at 19 May 2017 and payable on 16 June 2017
Once in a while, we can find a company which is sure-footed and consistent. This company has never let me down (obviously subject to market sentiment, sector strength/weakness), not once in 10 years of investments has it failed me, made any unforced errors, or dented my confidence. Trade counters are always busy, now let's see if Howdens can deliver another sparkling set of results! GLA to all devotees.
Liberum upgrade today with a target price of 500p
Decent rise today, about time this started to move, could have a little run to the Finals on Feb 25th, see no reason Why they should not be good.
Try sharesmagazine.co.uk
Hi Does anyone know where I can get above info in tabular format like directors buy and sell and total holding and Digitallook has institutional holding on the day but no buy and sell and total holding.
Totally agree, cannot see anything wrong with the trading statement and expect good results from this solid company.
Nothing wrong with this company, so I don't see why it dropped so far this morning; certainly the trading update didn't scare me, and the final trading period is always manic at Howdens - look out for another great year-end. Unless there has been a board-room mass destruction (which there has not!), I don't see any reason for reducing my confidence in this company. Good exec team, good & continuing growth, good products, and customers queuing up at the door! What more do you want? So I topped up at 358p this morning, and happy to do so. Come on Howdens, keep it going!
for this share to drop as far as it did and then again yesterday just shows how panic affects all House building shares will rebound as we are still in desperate need of new housing.. Howden is not a house builder and only a fraction of its business is for new build so a 30% drop is ridiculous.Great buy at these prices.So I did !
id say this will fly today
whats your guess on the sp in the morning?
Results out tomorrow. This company is a BUY.
I hear some results are out on thursday....anyone else heard anything?
You're not wrong! I'm off to rob the bank to buy some more. This share has never let me down. Love 'em!