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Dunelm - Another special dividend

November 2013

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:
  • 850p
Having hit an all-time high of 1035p on 17 July shares in homewares retailer Dunelm succumbed to profit taking, exacerbated by Q1 results which showed a 5.3% decline in like-for-like sales for the 13 weeks to 28 September. This reflected the hot weather, which caused a marked reduction in footfall, although gross margin did improve 70 basis points helped by more direct sourcing.Earlier, Dunelm reported its final results for the year to 30 June, the highlight of which was another special dividend of 25p a share, returning £50.7m excess cash to shareholders. Dunelm increased revenues and pretax profit 12% to £677m and £108.1m respectively, while eps rose 14% to 40.0p. Year-end net cash was £44.7m. Dunelm's growth reflecte ...

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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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