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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Dunelm Group plc    DNLM   GB00B1CKQ739

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Dunelm : says trading picks up after difficult year

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09/13/2017 | 05:12pm CET

Dunelm Group Plc, the British homewares retailer which abruptly parted company with its chief executive last month, said trading had been encouraging in the first two months of its latest financial year.

The positive comments contrasted with a 0.5 percent contraction in comparable sales for the year to July 1 and lifted shares in home furnishings specialist by almost 10 percent to their highest level in over eight months.

Two weeks ago, the retailer sprang a surprise when it said Chief Executive John Browett was leaving after just over two years in charge.

Chairman Andy Harrison said the company was aiming over the medium-term to double annual sales to 2 billion pounds.

However, it pointed to pressures in the short-term as rising inflation limits the spending power of many Britons.

"We expect the trading climate to remain challenging with the disposable income of UK consumers under pressure," it said on Wednesday.

The company had long enjoyed rising sales for its ranges of items such as cushions, bedding and kitchen equipment, but many consumers have reined in spending over the last year.

The company outperformed the FTSE Mid-cap <.FTMC> between 2012 and 2016 but lags the index since the Brexit vote in June of that year.

However, analysts at Morgan Stanley noted the commentary on current trading and called the start "fairly encouraging".

The brokerage has a target price of 520p on the stock along with a "underweight" rating.

Shares in the company were up 8.9 percent at 665p at 1120 GMT.

(The story removes reference in paragraph seven to "big-ticket" items.)

(Reporting by Rahul B and Noor Zainab Hussain in Bengaluru; editing by John Stonestreet/Keith Weir)

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Financials ( GBP)
Sales 2018 1 068 M
EBIT 2018 124 M
Net income 2018 96,8 M
Debt 2018 104 M
Yield 2018 4,00%
P/E ratio 2018 14,56
P/E ratio 2019 12,90
EV / Sales 2018 1,40x
EV / Sales 2019 1,27x
Capitalization 1 391 M
Chart DUNELM GROUP PLC
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Dunelm Group plc Technical Analysis Chart | DNLM | GB00B1CKQ739 | 4-Traders
Technical analysis trends DUNELM GROUP PLC
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 7,03  GBP
Spread / Average Target 2,0%
EPS Revisions
Managers
NameTitle
William Adderley President
Andrew Harrison Non-Executive Chairman
Keith Down Chief Financial Officer & Executive Director
William Lester Adderley Deputy Chairman
Marion Jane Sears Independent Non-Executive Director
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