Andrew Harrison non-executive director of Dunelm (DNLM) the FTSE 250 homeware and furnishings retailer has acquired shares worth just under £300,000.
Harrison bought 28,214 shares on 19 March 2022 at a price of 1,055.38p equivalent to a value of £297,764.90.
Following the transaction Harrison will have a total holding of 444,694 shares equal to 0.22% of the group’s share capital.
Harrison's share purchase follows a positive third quarter update. The group expects to deliver full year pre-tax profits in line with the latest £195 million to £215 million analyst forecast range.
Impressively, third quarter sales were 40% higher than the comparable quarter of 2020, when the final three weeks were impacted by the start of the pandemic.
Third quarter gross margins were up 30 basis points year on year against expectations of a decline due to Dunelm’s first full January sale for the first time in two years.
The retailer reiterated that roughly 85% of its growth over the past five years has been driven through market share gains.
Following the results broker Peel Hunt suggested ‘that the retailer continues to deliver double digit sales growth against a market that has gone backwards over 3Q. There is no sign of consumers retreating as yet, but there is clearly a tougher backdrop ahead.’
Year to date the shares are down 23%.
JTC COO SNAPS UP SHARES
JTC chief operating officer Wendy Holley has bought shares worth just under £100,000.
Holley purchased 13,088 shares on 19 April 2022 at a price of 760.2p, equivalent to £99,494.98.
Following the transaction Holley has increased her shareholding in the group to 393,779 shares, which represents 0.26% of the share capital.
Holley’s purchase coincided with the release of a strong set of 2021 results for the FTSE 250 provider of fund management services.
Revenues moved ahead by 28% to £147.5 million and underlying EBITDA (earnings before interest, tax, depreciation and amortisation) rose 24% to £48.4 million.
The Jersey-based group raised capital twice in 2021 including a £65.9 million share placing last April.
Together the two fund raises generated £145 million of gross proceeds that enabled the group to undertake seven acquisitions during last year.
Management confirmed the outlook for recent acquisitions was positive with all seven on track.
Shore Capital analyst Vivek Raja believes JTC has 'high-quality growth reflecting its recurring revenue base, strong profitability and its high rate of converting cash.’
