Member Info for Culpepper

Wheels within wheels. MXLG appointed replacement director from Virgin Media, Liberty Global side of the joint venture last month.

True. Sometimes people don’t believe everything they read.

Not bones, obviously. Work it out.

They just told us that.

“Outlook

Whilst supply issues persist across many product groups, order books continue to build and the outlook for materials shortages has become clearer. We are mindful of the potential impact of these shortages should the situation persist for an extended period, but remain highly confident in the effectiveness of our supply chain management and commercial agility. As a result of the continued strong sales momentum and operating performance, we are now more confident in our near term outlook and expect full year underlying2 operating profit to be ahead of current market forecasts.”

Order books will help next year. And any additional insulation, maybe considerable, will be a bones.

I expect there to be orders in the book for that and other products needed for a complete project, carrying Wickes increasingly forward well into 2022, in accord with what was said on last report.

“The well-documented demand for installers, and in particular the builders that many wider projects are dependent upon, combined with ongoing product supply restrictions, means lead times to project completion have extended. This will result in a higher carry over order book into next year which will benefit financial year 2022.”

supply on the way to sorting itself out.
https://specificationonline.co.uk/articles/2021-10-21/timber-trade-federation/softwood-supply-finally-catching-construction-demand

Is anybody listening?
Apparently not on average. 618 trades shown here and it’s gone up. Probably them deaf bots.

Don’t know any more than that. Give them a ring. See if it fits a bias one way or another.

“As a result of the continued strong sales momentum and operating performance, we are now more confident in our near term outlook and expect full year underlying2 operating profit to be ahead of current market forecasts.”

They might be called ‘market forecasters’ - Sig joint broker. I know, all brokers don’t have a clue unless it fits the argument.

21st. Sept. 2021. Analysts at Jefferies raised their estimates for SIG's 2021 profit to 32 million pounds ($43.8 million) from 25 million, predicting stronger profit margins from France and Germany. SIG had reported a loss of 43.2 million pounds in 2020.

I can’t help thinking there’s more to it.
I said earlier Mxc are quite an ‘incestuous’ bunch. Their dealings sometimes seem to have something on the end of it eventually - Cloudcoco was always one of ‘theirs’, set up originally from Redcentric employees ( Wheeler, Smith’s partner, was CEO of that ) Cloudcoco got backed in and Mxc supported it.
https://www.lse.co.uk/rns/MXCP/proposed-acquisition-of-loan-notes-in-adept4-plc-nv8v7d5acvavtum.html
Loan notes.
Now off we go again. Just musing. Some from a failing memory.

And they are ‘highly’ confident in their supply chain management and commercial agility. Sounds reassuring, doesn’t it? Done now.
Sorted.

Market share and all that follows.

The UK was a big problem. Putting material shortages and inflation on one side, it’s still a recovery stock and it’s recovering. That for me is the major point made today.

“UK Distribution performance provided the principal driver for the acceleration in growth during Q3, with the business moving, as expected, back to growth against 2019 monthly comparators, as the strategic and operational changes made since July 2020 continue to drive the return towards its previous market position and performance.”

Perhaps the analysts will have another go at it.

Sig(shi) released a trading statement this morning. I think surprising some to the upside. Managing materials concerns, passing on costs, and Inflation helping profitability.
https://www.lse.co.uk/rns/SHI/trading-statement-ffzei3lqqquuisc.html
The trading update here next week will likely depend on Wickes’ supplier relationships.

"As previously reported, inflation is also adding to the top line in all geographies, with the group continuing to pass through cost increases. Profitability continued to improve in the quarter compared to the first half, despite the typical modest seasonal dip in sales volumes in August," it said.

SIG said that while supply issues persist across many product groups, order books continue to build and the outlook for materials shortages has become clearer.

"We are mindful of the potential impact of these shortages should the situation persist for an extended period, but remain highly confident in the effectiveness of our supply chain management and commercial agility.

Ongoing.
https://rcimag.co.uk/news/bmf-unveils-race-to-zero-at-parliamentary-reception

Trading update.