Updates

Kitwave - Foodservice the swing factor

April 2023

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Kitwave continues its strong growth trajectory with sales for FY22 up 32% to £503.1m and pretax profit up 323% to £18.9m. Eps rose 171% to 22.1p. A final dividend of 6.75p takes the total to 9.25p for the year. The acquisition of MJ Baker contributed £18.3m in sales, so organic LFL revenues are therefore up by 28% (c.12% growth in case volumes and c.16% growth from price inflation). In fact, the faster than expected pace of acquisitions has seen group FY22 EBITDA of £29.5m, 40% ahead of the £21m forecast at IPO. Overall, gross margin improved by 2.4% to 20.4% driven by improved divisional margins in all three divisions, particularly the positive mix benefits from Foodservice. Foodservice saw 35% more cases supplied versu ...

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Calnex

Fisher (James)

Kitwave (December 2024)

Kitwave - Biggest ever deal will unleash wave of synergies (October 2024)

Kitwave (December 2023)

Kitwave - Well set for 13th acquisition (August 2023)

Kitwave FY23 - eps forecast upgraded by 13% (January 2023)

Kitwave - Foodservices side lifts margins (August 2022)

Kitwave (June 2021)

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