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There’s several other bits of reporting, nothing downbeat, and getting repetitive. Would welcome any analyst comment.
CHEERS CULPEPPER
🍻
Investors Chronicle short summary
Wickes' shares rise after new dividend policy
Shares in Wickes (WIX) climbed 6 per cent this morning after the home improvement retailer launched a £25mn buyback programme and overhauled its dividend policy.
Dividends will be based on “a cover range of 1.5 to 2.5 times adjusted EPS (earnings per share)”, compared with its historic post-tax payout ratio of 40 per cent.
In the same update, the company also reported a 3 per cent bump in like-for-like sales and announced a new focus on cash as a measure of balance sheet strength over lease-adjusted debt. Its full-year dividend will be maintained at 10.9p a share. ML
I wouldn’t say that. Share buybacks at what they take to be a low price, and investing for the future on selective store openings, and digital sales, whilst paying a divi.
I couldn’t ask any more from a progressive company.
I really do struggle to see the point of share buy backs although every company seems obsessed with them, appears short sighted to me, lack of ideas.
Https://www.cityam.com/share-buyback-on-the-way-at-wickes-as-it-puts-post-pandemic-lull-behind-it/
‘Comfortable’ with analysts estimates, on PBT, too. Margin holding up whilst maintaining competitive pricing.
With inflation improving, it’s possible they’ve bottomed out this part of the economic cycle.
Agree, wonderfully re assuring and what a great dividend yielding share we all own. Looking forward to more SP uplifts and rises in the SP plus continuation of nice dividends.
Looks good to me.
Divi maintained and £25 buy back about 7% of company shares
At theses prices a forward looking return of over 15% per annum as we move into a period where interest rates and inflation move downwards. Happy with update and my holding.
Feels like 10% plus today
Separation of systems from Travis Perkins I think was due to complete this spring, and being a one-off total, will not repeat. That will be a considerable saving.
I'm about 15% down on my buy in price.
They look steady albeit unspectacular no debt and good divies.
I think the extra £10m on utility bills stuck out in the last update and I'm hoping they reveal costs were a fair bit less. Fingers crossed
I expect nothing better than what may be seen as a relatively indifferent update, as the economy prevails.
In my opinion the company is competitively sound, so it may be down to at least a good, hopefully growing, share of the available market. I expect the financial update may be limited. If they are able to say performance is at least in line with their own expectations, it will satisfy me.
It’s fair to say I have a little more interest in them revisiting capital allocation, on prospects for divi and so on going forward.
What's your feeling for Tuesday Culpepper ?
Unfortunately appears to be running out of energy. Bloody CEO, what an utter plank with the IQ of a cheese sandwich!
Https://www.essexlive.news/whats-on/shopping/wickes-confirms-opening-date-new-8610105
25th. July
Grafton Group
https://www.lse.co.uk/rns/GFTU/trading-update-b4gmh6xawwxs577.html
Kingspan reported favourably today. Insulation.. Big lift in sp. Not the same, but shows there’s money about, though housing market depressed. Not making much of it, though, and no read-across anticipated.
https://www.lse.co.uk/rns/KGP/trading-update-t48linr3otst9hh.html
No benefits to be found in this environment.
Yet there will continue to be work which is not discretionary, and work which is at the top end of discretionary spend against other less value enhancing options.
On my reading, DIY is not the worst place to be in a recession.
I've noticed within my area that houses that were getting sold fairly quickly are now remaining unsold, in fact there are a lot more houses going up for sale presently. My sons interest payments on his house are about to increase by £400 per month when his fixed term agreement expires which is quite a jump in payments.
I would expect to see now a spate of reposessions as things get progressively worse in the housing sector. House prices need to fall as they've become unaffordable to most young couples beyond belief. Those that bought at the top end will no doubt see the specrtre of negative equity unfortuantely.
Can't see how any of this benefits the building supplies market as surplus cash dries up
I like to think the market has already priced in its expectations, by read-across of results. Capital allocation policy to be reviewed with the next update.
The building supplies market has become noticeably softer according to recent reporting, so I expect that to be reflected in the next trading update.
Advert and so on.
https://www.insightdiy.co.uk/news/wickes-unveils-its-great-kitchen-report/12612.htm
You will only know that if you are one of them keen enough to listen to the ( 7 hour! ) Pink News recording. Well done you! Though goodness knows why you bothered.
As it is, the company says the remarks are taken out of context. Presumably by the one activist, who put his spin on it, published, and parts of his single minded internet campaign trail stuff was repeated. In any event, they’re factually wrong.
Anyway, what court case is this? Which customer is it that whilst having the opportunity to shop in Wickes as normal, hived himself off to B and Q instead for his bag of sand having given deep consideration to trans matters and self identified as being accused of bigotry? And all the while considering his court case.
Can’t think there’s many like that. Unless Wickes customers are a very great deal more cerebral than they appear, whilst also strangely being equally gullible.
I don’t expect to see a heading and figures in future updates and results devoted to ‘ the trans affair.’