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!

I have one in @345p.

Sounds like a plan, that is roundaboutish where gap would be closed.

Berenberg Buy 375.85 420.00 445.00 Reiterates

Breakout within touching distance.

Breakout within touching distance.

Did break out intraday yesterday only to fall back. See what happens on Monday for a second attempt or not. Stop to entry.

Stop to 382.5 to lock in + 10 needs a volume injection.

On a mission today, breakout. Stop to 392.5

Stop to 402.5

Profit taking kicked in this morning. Left a Limit Buy on the spreads @ 406p

Just joined you here Casey Carson, F Greece and its problems, SANTA is coming to town. Consolidation after 2 down days, back for a go at the top and a new upleg coming.

Trading Statement

Howden Joinery Group Plc ('the Group') is today issuing an update on trading for the year.

The Board is pleased to report that the good trading performance seen in 2014 until the end of period 11 (as reported on 5 November 2014) continued for the remainder of the year.

As a result, it is expected that profit before tax for 2014 will be above the range of market expectations 1.

Trading

Total sales from Howden Joinery UK depots for 2014 of approximately £1070m (2013: £940.7m) were up 14%, rising 11% on a same depot basis.

The Group has also seen good performance on other key measures, including gross margin.

Business developments

Our new depots continue to perform well, 30 depots having opened in the UK during 2014, bringing the total to 589. In addition, we have recently opened two depots in Belgium.

Note 1: The range of analyst expectations for profit before tax and exceptional items from continuing operations for 2014 is believed to be £172m to £179m.

Next scheduled announcement

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

LATEST BROKER VIEWS

Date Broker New target Recomm.
9 Jan Jefferies... 280.00 Underperform
8 Jan Liberum Capital 440.00 Buy
8 Jan Numis 465.00 Add
8 Jan N+1 Singer 435.00 Hold
8 Jan JP Morgan... 470.00 Overweight
8 Jan N+1 Singer 415.00 Buy
12 Dec Liberum Capital 440.00 Buy
10 Dec Liberum Capital 440.00 Buy
5 Dec Citigroup 385.00 Neutral
2 Dec N+1 Singer 415.00 Buy
Broker Recommendations for Howden Joinery



That downgrade by Jeffries seems a wee bit harsh. Watching.

it feels that jeffries must have eaten some bad oysters!

Needs volume and a continued bounce of 50DMA.

So far so good, barring a market crash. :0)

Final Results

Financial results (continuing operations1)

The information presented here relates to the 52 weeks to 27 December 2014 and the 52 weeks to 28 December 2013 2, unless otherwise stated.

· Howden Joinery UK depot revenue increased by 14.3% to £1,075.5m (up 10.8% on same depot basis). Group revenue was £1,090.8m (2013: £956.5m);

· Gross profit margin was 63.7% (2013: 61.7%);

· Operating profit rose from £140.7m to £189.8m;

· Profit before tax increased to £188.8m (2013: £135.0m), the net interest charge falling by £4.7m (due to a decrease in the pensions finance expense);

· Basic earnings per share items increased from 15.9p to 23.2p;

· Net cash of £217.7m at year-end (28 December 2013: £140.5m net cash);

· Final dividend of 6.5p recommended, giving full year dividend of 8.4p per share (2013: 5.5p);

· £70m to be returned to shareholders, through a share repurchase programme.

1 2013 comparatives exclude exceptional items. 2 Restated for amendments to IAS19 - see note 2.

Business developments

· Investment in the future growth of the business continues:

- 30 new depots opened in UK in 2014, bringing total to 589;

- French trial extended: 2 depots opened in Belgium; plan to open up to 7 additional depots in northern France in 2015;

- capital expenditure totalled £32.8m;

- capital expenditure expected to average £60m p.a. over next three years, as we invest in key aspects of our operations to support further growth.

Current trading
· Howden Joinery UK depot revenue in the first two periods of 2015 rose by 9.9%1, in line with our expectations;

· Our outlook for the business for 2015 remains unchanged.

1 This excludes the first week, which had one less trading day in 2015 than in 2014.

Nice!

Trading Update

Howden Joinery Group Plc is today publishing a trading update covering the first four periods of the year (16 weeks to 18 April).

Performance so far this year is in line with our expectations, with market conditions unchanged.

Howden Joinery UK revenue was up 9.4% on the corresponding periods last year, increasing by 7.0% on a same depot basis. Along with the evidence we have of trading prospects, this would continue to indicate that market conditions remain good.

We are on track with our plans to open 30 new depots in the UK this year. With six new depots having been opened so far, Howden Joinery is now trading from 595 depots in the UK.

Next scheduled announcement

The Group will release its 2015 Half Yearly Report on 23 July 2015.