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4.3% up on 2023 and gained market share - fantastic result when viewed against key competitors

Interim results due to be released on 25th July - should give a good indication of where Howden sits against their peers. I'm expecting another decent set of results

They always have sold more than kitchens it’s just they’re now doing a much bigger range of joinery products (doors, flooring, stair parts etc) as well as bedrooms and tools / sealants etc.

The new housing market isn't of great significance to Howden whereas folk staying in their current property and spending money on home improvements is an important part of the business. Howden will continue to dominate the market with an estimated 30% share.

I reckon they'll report a decent 1st half and even if it only shows a small growth on last year it has to be measured against their peers.

Nobia (Magnet) are slashing costs and branches. Travis Perkins (Benchmarx Kitchens) are floundering. Kingfisher (B&Q) aren't enjoying big ticket sales growth.

Howden have set their sights on 1000 UK branches and continue to open sites in Ireland and France so there's plenty of scope for growth.

Deutsche Bank recently put out research with a longer term target of £12 and I see no reason to think that's unachievable

Telfer gets a mention and expected to be concluded second half 2024, possible mix of cash & equity……

https://www.usfunds.com/resource/major-mining-firms-are-investing-billions-in-zambias-copper-industry/

"The final results of the 2014 FS update are expected to be announced during April 2024."

The clock is fast running down on that one............

Will the last man out please switch off the lights................................

Https://www.mining.com/greatland-gold-makes-two-senior-leadership-appointments/

The Glencore loan is due for repayment by 31st March.

Given that the 31st March is Easter Sunday and stock markets close Thursday 28th, we're surely going to get something before then?

Matthew Ingle founded the company and was the initial driving force through turbulent times. Much of the positive culture he created still exists and it's that DNA that continues to support the business.

However, there's new blood in the company and when you look at the calibre of the management along with their ambitions for growth (sales AND margin), there is no doubt that this company is a winner

I'm beginning to struggle with this one.

Amazon - MicroSalt 60 G tub (40% less sodium) £7.95. Saxa Lo Salt 350 G tub (50% less sodium) £1.99

Saxa product delivers 20% less sodium, has almost 6 x more volume and is a quarter of the price. How is MicroSalt going to generate any kind of traction?

This is top up territory for me. It's not going to be an overnight success but I'm betting that 18 months from now this'll be approaching double figures.

New management now in place, new branches in the UK and the French / Irish outlets generating profits, all added to the continued rollout of new products - what's not to like about Howdens?

No doubt the SP will slip this morning on the trading update but in today's climate, Howdens continue to outperform the competition.

Sales lightly down on a record 2022 but I'm more than happy with this update.

"Given the Group's continued resilient trading, the Board maintains its full year expectations for 2023, but recognising a more uncertain macro-economic outlook this is expected to be towards the lower end of the range of analysts' consensus forecasts."

That's still £300 million PBT!!

As long as they steer a steady ship through peak trading in September & October, this year should finish ok. Next year when all the recently opened UK, Ireland & French branches start maturing will be the big test. If they start to become profitable then there will be a significant upswing.

Dividends are Howdens weak point and while some funds who mirror the FTSE will buy shares, there's maybe not the return (yet) for some of the bigger investors.

Time will tell......

There are still market pressures on the SP but when you compare the Howdens results to Kingfisher or Travis Perkins (who issued a profits warning) or Magnet (closing factories and withdrawing from less profitable market sectors) or even Wren (who must be struggling with their interest free offers), then being on track for another good year should be seen as a great result.

If they can continue at the current rates and successfully trade through their peak months in the autumn then the share price recovery will continue at a pace.

The only downside short term is the relatively low dividend

As predicted, despite challenging market conditions, Howdens remain on track for full year. That'll do for me!

With a positive 1st half trading statement due (in my opinion it'll at least be in line with expectations), a program of branch refurbs & new stores, new product etc. this has to be a steal at these prices. A dip yesterday on inflation figures but Howden is a sound bet going forward.

Happy to keep adding at this level with a view to holding long term

Another buoyant update as Howden continue to deliver despite all the concerns about cost of living etc. If they can trade through a tough spell and stay on track for the year's forecast then the future has to look very bright when more "normal" times return. I'll continue topping up at these prices

https://www.youtube.com/watch?v=w0cGEKxLhIc

Howden post another set of record results while others in the industry are closing factories

https://kbbfocus.com/news/2484-nobia-to-close-two-uk-factories-as-part-of-cost-reduction-programme