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Https://www.lse.co.uk/rns/WIX/full-year-results-2023-8kvhib9bqpgrmu1.html
I’m pleased with that. Better than expected for me, when set against most of what I’ve been reading. And an acquisition to boot. Confidence going forward.
A bit different, but Marshall’s taking rather a hit this morning. Wickes may already have lost some of that more recently. Just can’t tell.
I’ve accepted I’m here until the economy, house moves change for the better, whereupon I’ve convinced myself Wickes can compete with anybody in UK, and at the moment get market share, with a sweetener in the divi.
Like the optimism Pepper. I sold VTY to buy a tranche of these at 1.30. Missed out on 70% gain got a 20% one. But nonetheless a winner !!!
I don’t want to see it going down. Deep search for bright side in fullness of time they can buy back 6% more shares for their cash at 150 than 160.
Agreed Pepper.
Disappointed by the drop from 160p to 150p , but expecting more buy backs and tiny chance of a divi increase or special on results day
Fingers crossed
I should have added that Wickes seems well-placed to me to compete for market share.
I think this pretty well reflects where we’re at just now, with hopes tending towards H2 for any trending improvement in volumes.
https://professionalbuildersmerchant.co.uk/news/final-bmbi-report-2023-builders-merchant-sales-downturn/
On housebuilding, this is the latest snapshot in time following today’s publication. Just one of several. See how we go.
The UK Construction sector has a spring in its step, optimism for the year ahead the highest it’s been since Jan 22 - with the exception of the commercial sector, all 3 main categories of construction activity saw a near-stabilisation of business activity in Feb with housebuilding making the biggest comeback since Jan
@SPGlobalPMI
19th March 2024.
Anticipate as most in that line are doing, a cautious outlook, with preparation for improving times. And mention of next tranche of buyback programme. And divi.
Cautious outlook by Lowes. Buyers seeing a quality company, depressed price, and buying for a future outlook with maximum pain over in house movement, renovations coming back, seems to be the feeling. Along the lines of what one institution has said on their recent entrance to Wickes.
Surprising it didn't dip further? But then, other side of the pond, LOW guided pessimistically but continued up anyway.
Closing their store in central, Bristol, it seems due to surrounding development that doesn’t suit.
Another new one ready to go.
https://bdcmagazine.com/2024/02/practical-completion-achieved-at-new-lidl-and-wickes-stores-in-long-eaton/
Broken through 160...still massively undervalued. Yield c7% still
I always read Alistair Strang's posts on ii, partly to test my own observations against his but I also like his writing style. We are pretty much in alignment on this although my price targets are a little bit higher.
Good to see this holding up well without the buyback support, looks to be building another base ahead of hopefully the next move up.
I’m not much into it, more looking to advantage from what Wickes have built into their model, particularly when economic trends, housing and so on, work for the better.
For what it’s worth.
https://www.ii.co.uk/analysis-commentary/wickes-shares-worth-tracking-after-show-genuine-strength-ii530671
Https://www.lse.co.uk/rns/WIX/completion-of-first-tranche-of-buyback-programme-hme00akcyktmlet.html
Average cost 135.5p for 3.5% of the company. A good deal for shareholders, as we hope to progress, raising future eps., and more to come.
Got to be worth £2 at least, this is a solid well run business with a decent dividend, still seems cheap to me...
It doesn’t necessarily follow through into general retail, but it’s what Wickes, and others, have been investing in anticipation of, over time:-
UK consumer confidence reached a two-year high in January, according to research company GfK, in the latest positive sign for the economy.
The consumer confidence index, which measures people’s views of their finances as well as their view on broader economic prospects, rose three points month on month to minus 19, the highest level since January 2022.
This was the third consecutive month-on-month increase and followed the release of January’s purchasing manager index last week, which showed economic activity rising at the fastest pace in seven months.
Economists said the findings suggested that January’s cut in national insurance, falling mortgage rates and rising real wages were helping consumer sentiment despite the cost of living crisis still hurting household budgets.
On cash, the divi will cost £27.3m and go from there.
Good morning.
They said they were comfortable with brokers expectations and actually achieved top end. Dividend will be safe, though never in doubt.
CEOs sometimes pad stuff out, but in Wood’s case and what they’ve been doing to ready themselves for improvement in household spending, better housing market and so on, I believe it.
"We remain confident in our growth levers and in 2023 we have invested further in new stores, refits and our digital capability. This leaves us well-placed to continue to outperform the market in 2024 and beyond."
What do you think Culpepper ?
Seems very steady albeit my cash projection was over the top.
However looks like £10m of share buy backs (4p a share) and 10.9p dividend is well covered by new capital allocation policy.
A return of 10.3% at £1.45 is very good.
I'm hopeful we might crack £1.50 today and hold it - let's see
26th. January
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Https://www.summit.co.uk/summit-lands-major-new-deal-with-home-improvement-giant-wickes/