sp been rising 2010 and up 14% today on better than-expected results . . . the MMs must be expecting fools to rush in...yet Sells are massivly above Buys - will it end in tears, or are Dirs buying at these highs? All rather surprising as I'd expect Kitchen-sales are all done(when money was cheap up to 2008), and if you are trying to save money - you don't splash out on something you don't need.

I mean - howden does a kitchen "wear out"? - ho - ho!

N+1 Singer Buy 314.50 - - Reiterates

Citigroup Neutral 314.50 365.00 365.00 Retains

Half Yearly Report

Financial results (continuing operations)1

· Howden Joinery UK depot revenue increased by 11.6% to £428.2m (up 8.7% on a same depot basis). Group revenue was £435.4m (2013: £390.8m);

· Gross profit margin was 63.2% (2013: 61.5%);

· Operating profit rose to £57.6m (2013: £44.2m);

· Profit before tax increased to £57.2m (2013: £41.6m);

· Basic earnings per share increased to 6.6p (2013: 4.8p);

· Net cash of £161.1m at 14 June 2014 (28 December 2013: £140.5m net cash,
15 June 2013: £102.0m net cash);

· Interim dividend of 1.9p per share declared (2013: 1.0p).

Business developments

· We continue to invest in future growth across the whole business:

- in line with our plans, 17 new UK depots opened so far in 2014, bringing total to 576;

- capital expenditure totalled £17.2m (2013: £8.8m), reflecting increased investment in depots.

Current trading and outlook

· Howden Joinery UK depot revenue increased by 14.0% in the first four week period of the second half of the year;

· The Board is pleased with the good first half performance and, while we still have our important "Period 11" to come and face risks to gross margin from exchange rates and cost inflation, the Group is well placed to achieve its expectations for the full year.

1. 2013 comparatives exclude exceptional items.

N+1 Singer Buy 341.75 415.00 415.00 Reiterates

Jefferies International Underperform 364.90 364.90 - 233.00 Retains

Canaccord Genuity Buy 352.80 364.90 305.00 410.00 Reiterates

Numis Add 352.80 364.90 385.00 385.00 Retains

SB long @ 336p interim 13th November.

LATEST BROKER VIEWS

Date Broker New target Recomm.
23 Oct Berenberg 420.00 Buy

Tell you what Cynic lets trash this thread now like you and the boys have trashed the chart thread, lets all have a bit of fun.........

aldwickk View aldwickk's profile - 24 Oct 2014 12:21 - 2232 of 2235

Been headhunted aswel Zak Mir ...Tips TV, Jim Mellon....T1PS, Tom Winnifrith......shareprophets/Clem Chambers, iii have all asked if I was available to do a piece/column for them.

Under what name ? You have so many to choose from
goldfinger Send an email to goldfinger View goldfinger's profile - 24 Oct 2014 12:29 - 2233 of 2235 edit this post

Whats your point alders?
doodlebug4 - 24 Oct 2014 12:32 - 2234 of 2235

Lol, aldwickk! That's a very good point - rumour is that it's going to be WalterMitty.
cynic Send an email to cynic View cynic's profile - 24 Oct 2014 12:42 - 2235 of 2235

i like dd4 .... let's hope sticky doesn't get the hump at that jolly jape

looks like a very subdued day all round .... i suspect ev dow will be range bound between about 16,600 and 16,700, or 16,750 at a push

Tell you what Cynic lets trash this thread now like you and the boys have trashed the chart thread, lets all have a bit of fun.........

aldwickk View aldwickk's profile - 24 Oct 2014 12:21 - 2232 of 2235

Been headhunted aswel Zak Mir ...Tips TV, Jim Mellon....T1PS, Tom Winnifrith......shareprophets/Clem Chambers, iii have all asked if I was available to do a piece/column for them.

Under what name ? You have so many to choose from
goldfinger Send an email to goldfinger View goldfinger's profile - 24 Oct 2014 12:29 - 2233 of 2235 edit this post

Whats your point alders?
doodlebug4 - 24 Oct 2014 12:32 - 2234 of 2235

Lol, aldwickk! That's a very good point - rumour is that it's going to be WalterMitty.
cynic Send an email to cynic View cynic's profile - 24 Oct 2014 12:42 - 2235 of 2235

i like dd4 .... let's hope sticky doesn't get the hump at that jolly jape

looks like a very subdued day all round .... i suspect ev dow will be range bound between about 16,600 and 16,700, or 16,750 at a push

Tell you what Cynic lets trash this thread now like you and the boys have trashed the chart thread, lets all have a bit of fun.........

aldwickk View aldwickk's profile - 24 Oct 2014 12:21 - 2232 of 2235

Been headhunted aswel Zak Mir ...Tips TV, Jim Mellon....T1PS, Tom Winnifrith......shareprophets/Clem Chambers, iii have all asked if I was available to do a piece/column for them.

Under what name ? You have so many to choose from
goldfinger Send an email to goldfinger View goldfinger's profile - 24 Oct 2014 12:29 - 2233 of 2235 edit this post

Whats your point alders?
doodlebug4 - 24 Oct 2014 12:32 - 2234 of 2235

Lol, aldwickk! That's a very good point - rumour is that it's going to be WalterMitty.
cynic Send an email to cynic View cynic's profile - 24 Oct 2014 12:42 - 2235 of 2235

i like dd4 .... let's hope sticky doesn't get the hump at that jolly jape

looks like a very subdued day all round .... i suspect ev dow will be range bound between about 16,600 and 16,700, or 16,750 at a push

StockMarketWire.com

Howden Joinery Group expects profit before tax for the year to be above the range of market forecasts.

But it says that it should be noted that the two remaining trading periods together typically account for over 10% of annual revenues.

The board says the group has seen a good sales performance throughout the second half of the year, including during the important October trading period (period 11).

Howden Joinery UK depots' total revenue in the second half of the year to 1 November (periods 7 to 11) increased by 16.2%. This was achieved in the face of toughening comparators that have been seen since the start of the second half of the year.

As a result, in the first 11 periods (44 weeks) of 2014, ending 1 November, total revenue was up 14.1%, rising 10.6% on a same depot basis. Gross margin performance has been in line with expectations.



Story provided by StockMarketWire.com

Stop to 346p to lock in + 10

Well done Chris - v nice!

Cheers db, stop to 361 to lock in + 25

Latest broker views


Date

Broker

New target

Recomm.


5 Nov JP Morgan... 440.00 Overweight
5 Nov Numis 385.00 Add
5 Nov N+1 Singer 415.00 Buy
5 Nov Liberum Capital 420.00 Buy
23 Oct Berenberg 420.00 Buy
19 Sep Jefferies... 260.00 Underperform
4 Sep N+1 Singer 415.00 Buy
22 Aug Liberum Capital 420.00 Buy
22 Aug Berenberg 420.00 Buy
5 Aug JP Morgan... N/A Overweight

Broker Recommendations for Howden Joinery

Stop to 366 to lock in + 30

Stopped out. Back on watch list for now re-spreads.

Lost a lot of money here today Carson, just look at that dark down candle. Must have put you out of the trade.

Better luck next time old bean.........aka Robbie Burns trainee. LOL LOL LOL

gf - Unlike yourself I don't pretend to be a super trader Mr 90%

My entry is in black and white and subsequent trailing stops to lock in profits.

This is a good company!


What is your entry on your Consort trade again etc? We will never know! FLAKE!

Seems to be some confusion here, Howden released Interim results last week 5th Nov. Next update according to last paragraph below is in Febuary. Yet MAM diary states a Trading Statement this Thursday?
News

05/11/14
Interim Management Statement

Howden Joinery Group Plc ('the Group') is today publishing its Interim Management Statement covering the period from the end of the first half of the year (14th June 2014) to date.

The Board is pleased to report that the Group has seen a good sales performance throughout the second half of the year, including during the important October trading period (period 11).

As a result of this, we now expect profit before tax for the year to be above the range of market expectations Note 1. However, it should be noted that the two remaining trading periods together typically account for over 10% of annual revenues.

Trading

Howden Joinery UK depots' total revenue in the second half of the year to 1 November (periods 7 to 11) increased by 16.2%. This was achieved in the face of toughening comparators that have been seen since the start of the second half of the year. As a result, in the first 11 periods (44 weeks) of 2014, ending 1st November, total revenue was up 14.1%, rising 10.6% on a same depot basis.

Gross margin performance has been in line with expectations.

Business developments

Since we released our 2014 Half Yearly Report in July, we have continued to make good progress in a number of areas of the business:

Depot openings: we have opened 4 new depots, resulting in 21 new depots in the UK so far this year and bringing the total to 580. We are on course to open 30 new depots as expected in the whole of 2014.
New product development: we have recently commenced a trial that enables us to sell granite worktops from stock in a very small number of depots - initial feedback has been encouraging.
Legacy properties: the lease of one legacy property has been terminated, at a cost of £3m. With one lease having expired in May, this means that there are six legacy properties remaining, with net annual rent and rates of less than £1 million.
Pension scheme funding

In an announcement made in June 2012, the Group gave details of the agreement with the trustees of the Group's defined benefit pension scheme in relation to the schedule of payments towards the scheme's deficit for the three years ending 5 April 2015. In line with the agreement, we now expect to make an additional one-off payment for the current pension year of £10m, which will be paid in 2015.

There have been no other material changes to the financial position of the Group in the period save as a result of the usual impact of the level of trading and those other matters disclosed above.

Note 1: The range of analyst expectations for profit before tax and exceptional items from continuing operations for 2014 is believed to be £161m to £172m.

Next scheduled announcement

The Group will release its 2014 Preliminary Results on 26 February 2015.