New Risk • Jun 10
New major risk - Revenue and earnings growth Earnings have declined by 55% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 55% per year over the past 5 years. Minor Risk Market cap is less than US$100m (UK£22.8m market cap, or US$30.5m). New Risk • Apr 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 9.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Market cap is less than US$100m (UK£31.1m market cap, or US$42.0m). Aankondiging • Apr 28
Headlam Group plc, Annual General Meeting, May 20, 2026 Headlam Group plc, Annual General Meeting, May 20, 2026. Location: gorsey lane, birmingham, b46 1ju, coleshill United Kingdom Aankondiging • Apr 14
Headlam Group plc Announces Board and Committee Changes, Effective 20 May 2026 Headlam Group plc announced the strengthening of its Board through two independent Non-Executive Director appointments. Nick Kelsall will join the Board as an independent Non-Executive Director on 20 May 2026, and will join the Audit, Nominations and Remuneration Committees on appointment. Nick served as Chief Executive Officer and Executive Director of Norcros plc from April 2011 to March 2023, having previously held the position of Chief Financial Officer at Norcros plc for over 14 years. In addition, Wilf Walsh will join the Board as an independent Non-Executive Director on 20 May 2026, and will also join the Audit, Nominations and Remuneration Committees on appointment. Wilf served as Chief Executive Officer and Executive Director of Carpetright from 2014 to 2021 and then as Chair of parent company, Nestware Holdings until his retirement in 2022. He currently serves as Chair of the Racecourse Association, Chair of Cricket Scotland and Chair Elect of Exeter City Football Club. In addition, he is a Board Member of the British Horseracing Authority and the Horserace Betting Levy Board. Robin Williams, Non-Executive Director and Chair of the Audit Committee, has notified the Board that he does not intend to stand for re-election at the AGM and will accordingly step down from the Board on 20 May 2026. Nick will assume the role of Audit Committee Chair from 20 May 2026. Reported Earnings • Mar 26
Full year 2025 earnings released: UK£0.81 loss per share (vs UK£0.31 loss in FY 2024) Full year 2025 results: UK£0.81 loss per share (further deteriorated from UK£0.31 loss in FY 2024). Revenue: UK£498.7m (down 16% from FY 2024). Net loss: UK£64.8m (loss widened 159% from FY 2024). Revenue is forecast to grow 5.3% p.a. on average during the next 2 years, compared to a 3.5% growth forecast for the Retail Distributors industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. New Risk • Mar 26
New major risk - Revenue and earnings growth Earnings have declined by 45% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 45% per year over the past 5 years. Minor Risk Market cap is less than US$100m (UK£33.8m market cap, or US$45.2m). Aankondiging • Mar 19
Headlam Group plc to Report Fiscal Year 2025 Results on Mar 25, 2026 Headlam Group plc announced that they will report fiscal year 2025 results on Mar 25, 2026 Reported Earnings • Sep 17
First half 2025 earnings released: UK£0.32 loss per share (vs UK£0.18 loss in 1H 2024) First half 2025 results: UK£0.32 loss per share (further deteriorated from UK£0.18 loss in 1H 2024). Revenue: UK£244.7m (down 4.6% from 1H 2024). Net loss: UK£25.4m (loss widened 76% from 1H 2024). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Retail Distributors industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Aankondiging • Jul 07
Headlam Group plc to Report First Half, 2025 Results on Sep 16, 2025 Headlam Group plc announced that they will report first half, 2025 results on Sep 16, 2025 Major Estimate Revision • May 23
Consensus EPS estimates fall by 22% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from UK£606.3m to UK£586.6m. Losses expected to increase from UK£0.21 per share to UK£0.26. Retail Distributors industry in the United Kingdom expected to see average net income growth of 17% next year. Consensus price target of UK£3.40 unchanged from last update. Share price was steady at UK£0.93 over the past week. Aankondiging • Mar 24
Headlam Group plc, Annual General Meeting, May 22, 2025 Headlam Group plc, Annual General Meeting, May 22, 2025. Location: headlam group plc, gorsey lane, b46 1ju, coleshill United Kingdom New Risk • Mar 21
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: UK£77.0m (US$99.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Aankondiging • Mar 12
Headlam Group plc Announces No Interim or Final Ordinary Dividend in Respect of 2024 Headlam Group plc announced No interim or final ordinary dividend has been declared or proposed in respect of 2024 (2023: total dividend of 10.0 pence comprising interim and final combined). Reported Earnings • Mar 12
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: UK£0.31 loss per share (down from UK£0.096 profit in FY 2023). Revenue: UK£593.1m (down 9.7% from FY 2023). Net loss: UK£25.0m (down 425% from profit in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.7%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Retail Distributors industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. Aankondiging • Mar 04
Headlam Group plc to Report Fiscal Year 2024 Results on Mar 11, 2025 Headlam Group plc announced that they will report fiscal year 2024 results at 8:00 AM, GMT Standard Time on Mar 11, 2025 Aankondiging • Feb 28
Headlam Group plc Announces Board and Committee Changes Headlam Group plc announced that, following a successful handover to Stephen Bird as part of the Company's Chair succession plan, Keith Edelman will step down from the Board with immediate effect and his roles as Chair of the Company and its Nomination Committee will pass to Stephen Bird. Keith has been a Director of the Company for over six years and the Board is grateful to Keith for his service as both Non-Executive Director and, latterly as Chair, and wish him well for his future ventures. The Board confirmed that Stephen Bird will take over as Chair of the Company and its Nomination Committee with immediate effect, and Stephen will stand for re-election at the AGM in May 2025. The Board also announce that Jemima Bird, Chair of their Remuneration Committee, has also been appointed as Senior Independent Director with immediate effect. Aankondiging • Dec 20
Headlam Group plc Announces Board Changes Headlam Group plc announced that Keith Edelman has informed the Board of his intention to step down from his role as Chair of the Company. Keith will support a managed transition to his successor, Stephen Bird, and will not seek re-election as a Director at the Company's Annual General Meeting in May 2025. Keith has been a Director of the Company for six years and the Board is grateful to Keith for his service as both Non-Executive Director and, latterly, as Chair, and wish him well for his future ventures. The Board announced that Stephen Bird will be appointed Chair of the Company and its Nomination Committee with effect from the Company's AGM in May 2025, and Stephen will stand for re-election at the AGM in May 2025. Stephen has extensive executive experience developing successful, customer-led growth strategies to help businesses grow and adapt to changing markets. He had been Group Chief Executive of Videndum plc since 2009 and recently stepped down from that role. Previously he was Senior Independent Director of Dialight plc and was Divisional Managing Director of Weir Oil & Gas. Stephen has also held senior roles at Danaher Corporation, Black & Decker, and Technicolor Group. Reported Earnings • Sep 20
First half 2024 earnings released: UK£0.20 loss per share (vs UK£0.046 profit in 1H 2023) First half 2024 results: UK£0.20 loss per share (down from UK£0.046 profit in 1H 2023). Revenue: UK£292.5m (down 12% from 1H 2023). Net loss: UK£16.2m (down UK£19.9m from profit in 1H 2023). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 1.4% decline forecast for the Retail Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 35% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Sep 17
Now 21% undervalued Over the last 90 days, the stock has risen 1.7% to UK£1.47. The fair value is estimated to be UK£1.86, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to decline by 2.7% in a year. Earnings are forecast to decline by 90% in the next year. New Risk • Jul 08
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 104% Paying a dividend despite having no free cash flows. Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.2% net profit margin). Price Target Changed • May 15
Price target decreased by 9.9% to UK£3.40 Down from UK£3.78, the current price target is an average from 2 analysts. New target price is 117% above last closing price of UK£1.57. Stock is down 43% over the past year. The company is forecast to post a net loss per share of UK£0.41 compared to earnings per share of UK£0.096 last year. Upcoming Dividend • May 02
Upcoming dividend of UK£0.06 per share Eligible shareholders must have bought the stock before 09 May 2024. Payment date: 07 June 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.6%. Lower than top quartile of British dividend payers (5.8%). Higher than average of industry peers (4.2%). New Risk • Mar 20
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 31% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 104% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.2% net profit margin). Major Estimate Revision • Mar 12
Consensus EPS estimates fall by 33% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from UK£663.7m to UK£656.2m. EPS estimate also fell from UK£0.11 per share to UK£0.074 per share. Net income forecast to shrink 22% next year vs 11% growth forecast for Retail Distributors industry in the United Kingdom . Consensus price target down from UK£3.90 to UK£3.78. Share price fell 6.1% to UK£1.85 over the past week. Aankondiging • Mar 06
Headlam Group plc to Report First Half, 2024 Results on Sep 03, 2024 Headlam Group plc announced that they will report first half, 2024 results on Sep 03, 2024 Reported Earnings • Mar 06
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: UK£0.096 (down from UK£0.40 in FY 2022). Revenue: UK£656.5m (down 1.1% from FY 2022). Net income: UK£7.70m (down 77% from FY 2022). Profit margin: 1.2% (down from 5.1% in FY 2022). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.5%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Retail Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Upcoming Dividend • Oct 19
Upcoming dividend of UK£0.04 per share at 8.1% yield Eligible shareholders must have bought the stock before 26 October 2023. Payment date: 28 November 2023. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 8.1%. Within top quartile of British dividend payers (6.6%). Higher than average of industry peers (4.6%). Major Estimate Revision • Oct 13
Consensus EPS estimates fall by 36% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from UK£0.157 to UK£0.10 per share. Revenue forecast steady at UK£664.0m. Net income forecast to shrink 50% next year vs 26% growth forecast for Retail Distributors industry in the United Kingdom . Consensus price target of UK£3.90 unchanged from last update. Share price fell 12% to UK£1.93 over the past week. New Risk • Oct 12
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.6% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Sep 06
First half 2023 earnings released: EPS: UK£0.046 (vs UK£0.21 in 1H 2022) First half 2023 results: EPS: UK£0.046 (down from UK£0.21 in 1H 2022). Revenue: UK£331.8m (up 2.5% from 1H 2022). Net income: UK£3.70m (down 79% from 1H 2022). Profit margin: 1.1% (down from 5.3% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Retail Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Aankondiging • Sep 06
Headlam Group plc Declares an Interim Ordinary Dividend for the Six Months Ended 30 June 2023, Payable on 28 November 2023 The board of Headlam Group plc have declared an interim ordinary dividend of 4.0 pence per share for the six months ended 30 June 2023 (2022: interim ordinary dividend 6.2 pence per share). This will be payable on 28 November 2023 to shareholders on the register as at 27 October 2023 and equates to a cash outflow of £3.2 million. Aankondiging • Sep 05
Headlam Group plc Announces Operating Guidance for 2023 Headlam Group plc announced with rolling annual volumes currently 20% lower than 2019, volumes expected to significantly improve over the medium-term providing opportunity for material uplift to profit due to high operational gearing. Aankondiging • Jul 29
Headlam Group plc to Report Q2, 2023 Results on Sep 05, 2023 Headlam Group plc announced that they will report Q2, 2023 results on Sep 05, 2023 Major Estimate Revision • Jul 28
Consensus EPS estimates fall by 46% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from UK£667.5m to UK£658.0m. EPS estimate also fell from UK£0.271 per share to UK£0.147 per share. Net income forecast to shrink 64% next year vs 9.9% growth forecast for Retail Distributors industry in the United Kingdom . Consensus price target down from UK£4.40 to UK£3.90. Share price fell 8.3% to UK£2.22 over the past week. Price Target Changed • Jul 27
Price target decreased by 16% to UK£3.90 Down from UK£4.65, the current price target is an average from 2 analysts. New target price is 72% above last closing price of UK£2.27. Stock is down 26% over the past year. The company is forecast to post earnings per share of UK£0.27 for next year compared to UK£0.40 last year. Price Target Changed • May 25
Price target decreased by 7.4% to UK£4.40 Down from UK£4.75, the current price target is an average from 2 analysts. New target price is 86% above last closing price of UK£2.37. Stock is down 27% over the past year. The company is forecast to post earnings per share of UK£0.27 for next year compared to UK£0.40 last year. Upcoming Dividend • May 04
Upcoming dividend of UK£0.11 per share at 6.1% yield Eligible shareholders must have bought the stock before 11 May 2023. Payment date: 02 June 2023. Payout ratio is a comfortable 43% but the company is not cash flow positive. Trailing yield: 6.1%. Within top quartile of British dividend payers (5.8%). Higher than average of industry peers (3.8%). Board Change • Apr 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CFO & Director Adam Phillips was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 09
Full year 2022 earnings: EPS exceeds analyst expectations Full year 2022 results: EPS: UK£0.40 (up from UK£0.24 in FY 2021). Revenue: UK£663.6m (flat on FY 2021). Net income: UK£33.6m (up 69% from FY 2021). Profit margin: 5.1% (up from 3.0% in FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.1%. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Retail Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Aankondiging • Feb 10
Headlam Group plc to Report Fiscal Year 2022 Results on Mar 08, 2023 Headlam Group plc announced that they will report fiscal year 2022 results on Mar 08, 2023 Price Target Changed • Nov 24
Price target decreased to UK£4.65 Down from UK£5.03, the current price target is an average from 2 analysts. New target price is 69% above last closing price of UK£2.75. Stock is down 38% over the past year. The company posted earnings per share of UK£0.24 last year. Price Target Changed • Nov 16
Price target decreased to UK£4.75 Down from UK£5.15, the current price target is an average from 2 analysts. New target price is 68% above last closing price of UK£2.83. Stock is down 35% over the past year. The company posted earnings per share of UK£0.24 last year. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improved over the past week After last week's 16% share price gain to UK£2.79, the stock trades at a trailing P/E ratio of 8.5x. Average forward P/E is 10x in the Retail Distributors industry in Europe. Total loss to shareholders of 32% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£1.83 per share. Upcoming Dividend • Oct 20
Upcoming dividend of UK£0.062 per share Eligible shareholders must have bought the stock before 27 October 2022. Payment date: 28 November 2022. Payout ratio is a comfortable 45% but the company is not cash flow positive. Trailing yield: 6.1%. Lower than top quartile of British dividend payers (6.2%). Higher than average of industry peers (3.7%). Reported Earnings • Sep 07
First half 2022 earnings released: EPS: UK£0.21 (vs UK£0.12 in 1H 2021) First half 2022 results: EPS: UK£0.21 (up from UK£0.12 in 1H 2021). Revenue: UK£323.8m (down 1.8% from 1H 2021). Net income: UK£17.3m (up 77% from 1H 2021). Profit margin: 5.3% (up from 3.0% in 1H 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Retail Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 11% per year, which means it is performing significantly worse than earnings. Price Target Changed • Jul 08
Price target decreased to UK£5.40 Down from UK£6.23, the current price target is an average from 2 analysts. New target price is 84% above last closing price of UK£2.94. Stock is down 41% over the past year. The company posted earnings per share of UK£0.24 last year. Buying Opportunity • Jun 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 24%. The fair value is estimated to be UK£3.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 2.5% per annum. Earnings is also forecast to grow by 20% per annum over the same time period. Upcoming Dividend • Apr 28
Upcoming dividend of UK£0.26 per share Eligible shareholders must have bought the stock before 05 May 2022. Payment date: 27 May 2022. Payout ratio is a comfortable 61% and the cash payout ratio is 96%. Trailing yield: 4.6%. Lower than top quartile of British dividend payers (4.7%). Higher than average of industry peers (2.0%). Price Target Changed • Apr 27
Price target increased to UK£6.23 Up from UK£5.66, the current price target is an average from 3 analysts. New target price is 71% above last closing price of UK£3.65. Stock is down 20% over the past year. The company is forecast to post earnings per share of UK£0.36 for next year compared to UK£0.24 last year. Reported Earnings • Mar 10
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: UK£667.2m (up 9.5% from FY 2020). Net income: UK£19.9m (up UK£40.2m from FY 2020). Profit margin: 3.0% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 4.8%, compared to a 4.0% growth forecast for the retail industry in the United Kingdom. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment deteriorated over the past week After last week's 16% share price decline to UK£3.30, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 11x in the Retail Distributors industry in Europe. Total loss to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at UK£3.64 per share. Upcoming Dividend • Oct 21
Upcoming dividend of UK£0.058 per share Eligible shareholders must have bought the stock before 28 October 2021. Payment date: 29 November 2021. Trailing yield: 2.4%. Lower than top quartile of British dividend payers (4.0%). Higher than average of industry peers (1.2%). Reported Earnings • Sep 05
First half 2021 earnings released: EPS UK£0.12 (vs UK£0.30 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: UK£329.9m (up 45% from 1H 2020). Net income: UK£9.80m (up UK£34.9m from 1H 2020). Profit margin: 3.0% (up from net loss in 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Price Target Changed • Jul 29
Price target increased to UK£6.23 Up from UK£5.54, the current price target is an average from 3 analysts. New target price is 18% above last closing price of UK£5.28. Stock is up 91% over the past year. Price Target Changed • May 01
Price target increased to UK£5.54 Up from UK£5.02, the current price target is an average from 3 analysts. New target price is 20% above last closing price of UK£4.60. Stock is up 53% over the past year. Upcoming Dividend • Apr 29
Upcoming dividend of UK£0.02 per share Eligible shareholders must have bought the stock before 06 May 2021. Payment date: 28 May 2021. Trailing yield: 0.9%. Lower than top quartile of British dividend payers (4.1%). Lower than average of industry peers (1.3%). Executive Departure • Apr 03
Independent Non-Executive Director has left the company On the 31st of March, Alison Littley's tenure as Independent Non-Executive Director ended after 2.2 years in the role. We don't have any record of a personal shareholding under Alison's name. Alison is the only executive to leave the company over the last 12 months. Reported Earnings • Mar 26
Full year 2020 earnings released: UK£0.24 loss per share (vs UK£0.34 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: UK£609.2m (down 15% from FY 2019). Net loss: UK£20.3m (down 171% from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 10
Full year 2020 earnings released: UK£0.24 loss per share (vs UK£0.34 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: UK£609.2m (down 15% from FY 2019). Net loss: UK£20.3m (down 171% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 67% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Mar 10
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 0.02%. Earnings per share (EPS) also surpassed analyst estimates by 97%. Over the next year, revenue is forecast to grow 9.6%, compared to a 3.6% growth forecast for the Retail Distributors industry in the United Kingdom. Is New 90 Day High Low • Feb 23
New 90-day high: UK£4.08 The company is up 14% from its price of UK£3.58 on 24 November 2020. The British market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Retail Distributors industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£35.67 per share. Is New 90 Day High Low • Jan 21
New 90-day high: UK£4.04 The company is up 45% from its price of UK£2.79 on 23 October 2020. The British market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Retail Distributors industry, which is up 31% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£29.94 per share. Is New 90 Day High Low • Jan 06
New 90-day high: UK£3.89 The company is up 47% from its price of UK£2.65 on 08 October 2020. The British market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Retail Distributors industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£30.75 per share. Price Target Changed • Nov 20
Price target raised to UK£4.86 Up from UK£4.30, the current price target is an average from 3 analysts. The new target price is 35% above the current share price of UK£3.61. As of last close, the stock is down 19% over the past year. Is New 90 Day High Low • Nov 11
New 90-day high: UK£3.13 The company is up 7.0% from its price of UK£2.92 on 13 August 2020. The British market is up 1.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Retail Distributors industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£4.15 per share.