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KITW Kitwave Group Plc

350.00
-6.00 (-1.69%)
23 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Kitwave Group Plc LSE:KITW London Ordinary Share GB00BNYKB709 ORD GBP0.01
  Price Change % Change Share Price Shares Traded Last Trade
  -6.00 -1.69% 350.00 61,291 16:35:23
Bid Price Offer Price High Price Low Price Open Price
344.00 348.50 350.00 350.00 350.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Confectionery-wholesale 602.22M 18.96M 0.2702 12.95 245.51M
Last Trade Time Trade Type Trade Size Trade Price Currency
17:12:14 O 394 350.00 GBX

Kitwave (KITW) Latest News

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Date Time Title Posts
19/4/202410:52Kitwave Plc-The next Booker?348

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Kitwave (KITW) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
16:12:14350.003941,379.00O
15:38:20350.003,40311,910.50AT
15:35:23350.005,13917,986.50UT
15:12:36346.0077266.42O
15:09:53346.212,0006,924.10O

Kitwave (KITW) Top Chat Posts

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Posted at 23/4/2024 09:20 by Kitwave Daily Update
Kitwave Group Plc is listed in the Confectionery-wholesale sector of the London Stock Exchange with ticker KITW. The last closing price for Kitwave was 356p.
Kitwave currently has 70,146,766 shares in issue. The market capitalisation of Kitwave is £245,513,681.
Kitwave has a price to earnings ratio (PE ratio) of 12.95.
This morning KITW shares opened at 350p
Posted at 19/4/2024 08:54 by monet
Looks like she sold near the top.

Director/PDMR Shareholding



Kitwave Group plc (AIM: KITW), the delivered wholesale business, was today notified by John Hope, a PDMR at the Company, that his spouse, Tina Hope, who is a Person Closely Associated ("PCA") had sold 175,000 ordinary shares of one pence each in the Company ("Ordinary Shares") on 17 April 2024 at a price of 363 pence per Ordinary Share.
Posted at 04/4/2024 07:41 by igoe104
KITW going Ex Dividend today..
Posted at 18/3/2024 17:43 by petersinthemarket
16 March 2024: MIDAS SHARE TIPS: Food delivery giant Kitwave caters to all our needs: About twenty years before his final defeat at Waterloo, Napoleon is said to have described England as ‘a nation of shopkeepers’. The claim was considered offensive, Napoleon got his comeuppance and today Britain prides itself on its retail qualities. In food and drink alone, there are around 90,000 independent stores across the country catering to our last-minute, local and impulse needs. But we are a country that also likes a coffee, a pint or a bite to eat, and around 350,000 outlets offer just that service, from the Highlands to the Cornish coast. Kitwave helps these businesses function by supplying name-brand food and drinks to more than 40,000 convenience stores, cafes and caterers across the country. Petrol stations, care homes, gyms and schools are also among the group’s client base, but in both cases Kitwave is very focused on delivering what businesses want, when they need it, at a price they can afford. The strategy is working and Kitwave shares, valued at £3.42, should pay off. The company, based in North Shields, a few miles from Newcastle, started in 1987 with one self-service store. Today, almost 5,000 deliveries are made per day from 30 depots. Orders vary in shape and size, but Kitwave specializes in small, frequent deliveries, averaging £350 each time. Chilled and frozen products are particularly popular with retailers, while eateries source almost all their products from Kitwave, except fresh meat and fish. The company’s range is extensive, with 44,000 individual products, from Magnum ice cream and McCain crisps to chips and cola to onions and lettuce. Choc full of products: Kitwave’s range includes Magnum, advertised by Kylie Minogue Customers don’t pay delivery fees, so Kitwave makes money by adding a surcharge to the products sold. However, margins are small and many companies prefer to have their goods delivered rather than going to self-service stores. The results for the twelve months to October 31st prove this point. Turnover rose 20 percent to £602 million, pre-tax profits rose 39 percent to £25 million and the dividend rose 21 percent to 11.2p. Looking ahead, there is ample potential for continued strong growth. The wholesale market is huge, with an annual turnover of almost £25 billion, excluding cigarettes. Big players account for more than half of revenues, but there is still around £10bn left in the hands of independent operators. Here Kitwave is doing better than most other companies, with growth that far exceeds its peers. The independent market is also highly fragmented, with hundreds of small players owning one or two depots and serving only local customers. This makes for attractive acquisitions for Kitwave, so the group has completed thirteen deals in recent years and more are expected. Founder Paul Young, 67, is retiring this summer, but his successor, Ben Maxted, has been with the company for more than a decade and knows it inside out. In its early 40s, Maxted is eager to improve profit margins and productivity by making the most of technology, from driver route planners to headsets that help warehouse workers navigate orders more effectively.
Online ordering is also increasing, with the average number of orders growing as customers are presented with a plethora of product options. There is also a pipeline of acquisitions, as Maxted and chief financial officer David Brind have a wide network of contacts and can find deals before they hit the open market. However, there will be no radical departure from Young’s proven formula. Delivering thousands of goods to thousands of customers day in and day out is a demanding task. Anything can go wrong and customers can be fickle. Kitwave’s success is based on developing relationships with its suppliers, understanding its customers and ensuring that goods are in stock and delivered on time to the businesses that need them. The company joined Aim in 2021 and is reaping the rewards with greater recognition across the market. Brokers are optimistic about the prospects, predicting turnover of £660 million and profits of £29 million for this year, with a dividend of 12.7p. Maxted and Brind are keen to reward shareholders and Kitwave’s balance sheet is strong, so steady dividend growth is expected.
Midas judgment: Kitwave is a success story from the North East, aimed at retailers, cafe owners and diner ladies. It has achieved strong growth as a private company and has continued in that vein since going public three years ago. At £3.42 the shares are a buy.
Posted at 14/3/2024 15:39 by igoe104
KITW tipped in the shares Magazine..
Posted at 06/3/2024 14:04 by igoe104
Kitw today presentation
Posted at 06/3/2024 13:41 by dr biotech
Unlucky - though they didn't do a lot in the first year or so.

To answer the question in the title - they don't see booker as a rival. Booker deliver to large stores with a minimum drop size of something like £2k+ Kitwave is aim at the much smaller players. Much more about customer relationships and less about price.
Posted at 02/3/2024 13:31 by igoe104
Kitw mentioned in the champions investors podcast.
Posted at 26/2/2024 09:36 by igoe104
Yeah, Results tomorrow.

Kitwave Group plc (AIM: KITW), the delivered wholesale business, will announce its results for the 12 months ended 31 October 2023 on Tuesday, 27 February 2024.

 
Posted at 20/11/2023 07:06 by bigbigdave
Kitwave Group plc (AIM: KITW), the delivered wholesale business, is pleased to announce that the Group has acquired the entire issued share capital of WLG (Holdings) Limited, which trades as Wilds of Oldham ("Wilds of Oldham"), a composite drinks wholesaler (the "Acquisition"). The total gross consideration for the Acquisition, payable in cash, has been funded from the Group's current banking facilities.



Established for over 25 years, Wilds of Oldham is a composite, family-run drinks wholesaler supplying the on-and-off trade. Based in Oldham, Manchester, the company has a history of helping businesses achieve the best in licensed trade supplies. Currently, there are 35 members of staff, with 11 fleet vehicles that deliver to customers within a 50-mile radius of its warehouse in Oldham. In the financial year ended 30 September 2022, the business had a turnover of £10.2 million.



The Acquisition will be incorporated into Kitwave's existing Foodservice on-trade business H.B. Clark & Co. (Successors) Limited ("HB Clark").



Commenting on the Acquisition Paul Young, Chief Executive Officer of Kitwave, said:



"We are delighted to announce the acquisition of Wilds of Oldham, which will assist in the distribution of HB Clark's alcohol and soft drinks products throughout the North West. Wilds of Oldham is a proven, successful business that will make a strong addition to our Foodservice division.



"At Kitwave, we remain focussed on capitalising on the fragmented UK wholesale market and will continue to identify the best opportunities to deliver the most value for our stakeholders.



"We are looking forward to working closely with the Wilds of Oldham team and integrating the business into the Group's Foodservice division."
Posted at 14/2/2022 22:18 by tole
https://masterinvestor.co.uk/equities/kitwave-group-on-less-than-a-10pe-this-group-is-well-below-value/Kitwave Group – on less than a 10pe this group is well below valueBy Mark Watson-Mitchell 14 February 2022 3 mins. to readKitwave Group – on less than a 10pe this group is well below valueThe announcement last Friday morning of the £24.5m acquisition of a foodservice supplier by this recently floated wholesale group spiked my interest.The North Shields-based Kitwave Group (LON:KITW) looks to me to be quite an expansive group, whose investment merits may well have not yet become apparent to the majority of 'small-cap' investors, let alone the rest of the market.I know that we have not done well with the McColls Retail Group, which was a Profile selection in late April last year. It has been bitterly disappointing to date. Its shares did at least rise 23.5% and almost hit my price objective before falling back due to major Covid-19 hassles. But I maintain hope of its resurrection in share price terms.But Kitwave Group does not seem to be a parallel operation to MCLS. It is not a retailer but is, importantly, a wholesale supplier.The businessEstablished way back in 1987 this group subsequently expanded from the acquisition of a single-site confectionery wholesale business, into what is today a totally independent wholesale company carrying over 34,000 different lines, from its 26 depots across the country.Along the way it has made ten acquisitions of other wholesale distributors, before last Friday's purchase of MJ Baker Foodservice.Its customersSupplying some 38,000 customers Kitwave specialises in selling impulse products like snacks, soft drinks and confectionery. It also handles frozen and chilled foods such as ice cream, groceries as well as alcohol.The group's customers take in convenience stores, the on-trade like bars restaurants and pubs, vending machine companies, large retail and discount chains, re-wholesalers and companies in the foodservice sector like takeaways, schools, leisure centres etc.It has 1,070 employees, operates over 370 delivery vehicles, as well as a scalable IT platform.What makes Kitwave different from other such operators is that it caters for customers that are considered too small for the bigger brethren. Reliably it offers high service levels and profitably too, despite its average order size being around £400.Its suppliersKitwave has longstanding relationships with over 300 different suppliers, including major brand names.For instance, Unilever provides about 8% of the group's turnover, while Walkers Snack Foods and Molson Coors make up the top three suppliers accounting for a total of 16% of its sales.The AcquisitionPaying £24.5m cash, from its banking facilities, Kitwave has purchased the Newton Abbott located MJ Baker.Carrying 3,500 products in various ambient, chilled and frozen foods Baker is the West Country's leading independent foodservice supplier and it must make a wonderful fit into the Kitwave portfolio.On £16.9m of sales in 2020 it made pre-tax profits of £1.5m. The company has £7.9m of net assets, including £6m of cash and freehold property of around £1m in value.This immediately earnings enhancing deal is based on about six times EBITDA.Paul Young, the Kitwave CEO stated that it was an excellent addition to the group, which helps to build its nationwide foodservice offering as part of the group's growth strategy.The EquityThe group only went public in May last year, when it did a Placing of shares @ 150p each on behalf of vending shareholders and the company itself.There are currently 70m shares in issue.The larger holders include Paul Young, CEO (15.7%), Liontrust Investment Partners (14.2%), Premier Miton Group (10.7%), Canaccord Genuity Wealth (6.82%), Harwood Capital Management (6.10%), Ninety One UK (5.33%), Northern Trust and Jarvis Investment Management (5.01%), BlackRock Investment Management UK (5.00%), Columbia Threadneedle Investments (3.86%) and BMO Global Asset Management (3.09%).The Directors, including Paul Young, hold about 18% of the group's equity.Brokers ViewSubsequent to last Friday's Baker deal analyst Mark Photiades, an analyst at the company's brokers Canaccord Genuity Capital Markets, upped his estimates for the current year and next.The year to end October 2022 is expected to see sales of £451.5m, an adjusted pre-tax profit of £12.7m, earnings of 14.7p and a 7.4p dividend per share.For 2023 he goes for £475.2m of sales, £14.7m of profits, 16.4p earnings and a dividend of 8.2p per share.His price objective is 240p.My ViewThe group will announce its results for the 12 months ended 31 October 2021 on Monday, 28 February. At that time I would expect to see a bullish current year statement.The shares touched 179.75p early last July before drifting back to 130p just before the Baker acquisition was announced.On Friday night they closed at 145.5p, after peaking that day at 149.69p.At that closing price I rate the shares of Kitwave Group as an excellent addition for any capital growth portfolio, whether short or long-term.My Target Price is 180p.
Kitwave share price data is direct from the London Stock Exchange

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