12 Jan

Reuters (Link)

• “The company points to solid industry fundamentals with strong demand for new homes supported by accommodative financing, government initiatives as well as the well documented shortage of national supply. Long may this continue”, said Accendo Markets analyst Mike van Dulken.

11 Jan

Armchair Trader (Link)

• The timing of these companies’ announcements couldn’t come at a more telling time” suggested Accendo Markets analyst, Henry Croft, “coming against the backdrop of a stellar period for German discounters, as per Kantar data earlier in the week, and outstanding performances from fashion retailers…as companies both young (Boohoo) and old (Ted Baker) see bumper demand…The ballad of British grocers goes on, but for how much longer?”.

10 Jan

Scotsman (Link)

• Mike van Dulken, head of research at Accendo Markets, said the “only blot on the update” was Potts leaving full-year profit guidance unchanged. Dulken questioned whether this was due to management conservatism and a desire to engineer a “beat” to expected profits when they are announced in early 2018, or “prudence in the face of still tough conditions for the UK consumer”

9 Jan

Reuters (Link)

• “The Morrisons update is clearly better than expected,” said Mike van Dulken, head of research at Accendo Markets. “Marks has got the double benefit of both food and clothing and houseware. Next gave a good update from the clothing and the houseware section, Morrisons is giving a good update for the grocery, so perhaps Marks can benefit twofold there,” van Dulken added, referring to Next’s upbeat Christmas update last week.

8 Jan

CityAM (Link)

• The boardroom shake-up was labelled a “worry” by Accendo Markets head of research Mike van Dulken. “The CFO has moved to a more M&A focused role, suggesting more purchases, acquisition risk and integration of slower growth. Although at least his replacement has pedigree as ex-CFO of ARM Holdings, easyJet and EMI. Perhaps investors need more time to see that the latest monster acquisition is providing value before hearing more about incremental additions of the older product types the company likes to eke the most out.”