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Dunelm - Proposes a 21.5p special dividend

March 2010

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.

Dunelm has announced it is returning £43m or 21.5p per share to shareholders by way of a special dividend. Dunelm generated £52.5m cash in the first six months of the year to end December, taking its cash balance to £59.2m - so it can easily afford it.The H1 results themselves were excellent with overall sales up 26% to £254m or up 15.4% on a like-for-like basis. This included eight days trading from the winter sale (traditionally Dunelm's biggest trading days), compared with only two last year and stripping out the effect of the winter sale days, like-for-like sales grew 13.2%. Adjusted pretax profit was up 69% to £46.2m with earnings up 67% to 15.9p. Gross margin increased by 2% to 48% and operating ...

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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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Dunelm - Proposes a 21.5p special dividend

March 2010

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