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Dunelm

August 2015

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.

  • Epic Code:
  • DNLM
  • Price:
  • 900p
Dunelm has ended the year with a barnstorming Q4 helped by made-to-measure curtains and blinds selling exceptionally well. Like-for-like sales for both the quarter and the full year were up 5.8%. Overall for the year, including 12 new stores opened, sales were up 12.7%. Gross margin for the year is expected to be slightly lower reflecting a bit of clearance activity. Eight stores are expected to open in H1. Dunelm has a few headwinds including the rise in minimum wage albeit the cut in corporation tax will mitigate the impact on eps.Peel Hunt forecast £124.8m pretax/eps 47.5p for the year ended with £134.6m/51.9p this year. The shares have missed the rally in other retailers and should play catchup. Buy/Strong hold. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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