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  6. Kitwave Group Plc (KITW)

  7. Kitwave Group Plc (KITW) Share Price

KITW

Kitwave Group Plc

271.00
4.00 (1.5%)
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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
Upgrade Icon
  4.00 1.5% 271.00 57,829 16:35:03
Bid Price Offer Price High Price Low Price Open Price
265.00 269.00 271.00 265.00 270.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Confectionery-wholesale 380.69 1.10 0.20 130.00 189.70
Last Trade Time Trade Type Trade Size Trade Price Currency
17:06:24 O 964 270.998 GBX
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Kitwave (KITW) Latest News

Kitwave News

Date Time Source Headline
02/5/202314:31ALNCNewsTRADING UPDATES: Kitwave expects annual results to top market view
02/5/202307:00UKREGKitwave Group PLC Trading Update
24/4/202314:41UKREGKitwave Group PLC Holding(s) in Company
21/4/202307:00UKREGKitwave Group PLC Holding(s) in Company
18/4/202307:00UKREGKitwave Group PLC Holding(s) in Company
24/3/202311:19UKREGKitwave Group PLC Result of AGM
23/3/202312:04UKREGKitwave Group PLC Holding(s) in Company
16/3/202313:18UKREGKitwave Group PLC Director/PDMR Shareholdings
08/3/202307:05UKREGKitwave Group PLC Holding(s) in Company
03/3/202313:21ALNCNewsDIRECTOR DEALINGS: Croda, Weir and Kitwave executives sell shares

Kitwave (KITW) Discussions and Chat

Kitwave Forums and Chat

Date Time Title Posts
08/6/202310:05Kitwave Plc-The next Booker?167

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Kitwave (KITW) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-06-08 16:06:38271.009642,612.42O
2023-06-08 15:59:08271.017051,910.65O
2023-06-08 15:35:03271.008852,398.35UT
2023-06-08 15:28:53268.001,3603,644.80AT
2023-06-08 15:17:31268.005051,353.40O

Kitwave (KITW) Top Chat Posts

Top Posts
Posted at 15/5/2023 09:30 by igoe104
Good start to the week,just hope we haven't attacted the momentum traders.

They will jump ship as soon as the share price starts levelling out..
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Posted at 12/5/2023 15:29 by texas_caddy
Dr B - just had an offer mail from them (ex subscriber) advertising they think they’ve found another Judges so could well be included. I hold Kitw
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Posted at 12/5/2023 15:07 by dr biotech
Has to be said after a slow start this has proved to be an excellent investment for me. I'm up 100%, plus the dividend. Just wish all my investments were like this.


This has pretty much kept me above water this week and accounts for 80% of my gains this year. Its now 7.5% of my total holdings, next highest is less than 5. I know you shouldn't judge management by the share price, but this lot have done what they said they would. Will be interesting to see if they get a mention in SCSW this weekend as it was one of their tips (tbh the others I've followed have been mixed at best)
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Posted at 02/5/2023 07:03 by bigbigdave
Trading Update


Kitwave Group plc (AIM: KITW), the delivered wholesale business, today announces a pre-close trading update for the six-month period ended 30 April 2023.



The Group's strong performance across all divisions continued throughout the first half of its FY23 financial year. Due to the seasonality of the business, as in previous periods, there is a heavier weighting towards trading in the second half of the year. The Board anticipates that the Group's results for the full financial year will be slightly ahead of market expectations.



The Board remains conscious of the wider macroeconomic environment including inflationary headwinds but believes that the Group is well-placed to mitigate these risks.



The acquisition of Westcountry Food Holdings Limited, a specialist fresh produce wholesaler, in December 2022 complements the Group's existing Foodservice division and enables the expansion of our reach into the South West. The integration of the business into the Group has been successful and it is performing in line with management expectations.



Paul Young, Chief Executive Officer of Kitwave, commented:



"I am pleased to report on the progress made by the Group in the six months ending 30 April 2023. Following a strong first half performance, and with the second half of the year typically driving increased trading, we expect full year results will be slightly ahead of market expectations.



"With the considerable opportunities still available, both in the form of organic developments and through strategic, complementary acquisitions in a largely fragmented wholesale market, we have an excellent platform for growth. We look forward to continuing to deliver value to the Group and its shareholders and updating the market on our continued progress."
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Posted at 28/4/2023 13:12 by igoe104
KITW talked about on Paul Hill podcast with Rich Crow. (18 minutes in)

hTTps://youtu.be/tgM9631JnT8
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Posted at 17/4/2023 01:04 by davidosh
Kitwave will be featured in the show tonight on the BASH session (Buy, Avoid, Sell or Hold)

Https://melloevents.com/mm170403/

Use code TwitMM50 for half price tickets
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Posted at 06/4/2023 21:20 by igoe104
Kitw tipped in the shares magazine as 5 bargain shares to buy. Very positive wrire-up...

Well worth a read..


If you are a AJ Bell customer you can read the shares magazine for nothing...
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Posted at 04/11/2022 18:34 by tole
https://masterinvestor.co.uk/equities/small-cap-catch-up-iodine-pizzas-groceries-parcels-sites-and-kitchenware/Kitwave Group (LON:KITW) – a break above 200p soonYesterday's Pre-Close Trading Update for the year to end October for this delivered wholesale business was very positive.It reflected both organic and acquired growth, despite exterior hassles.CEO Paul Young stated that:"I am pleased to report another strong financial and operational year for the Group. In a challenging environment, Kitwave's strong market performance is a testament to our proven strategy and our resilience to external market pressures.As we enter the new financial year, this momentum continues and the outlook for the Group remains positive. With considerable growth opportunities still available, both in the form of organic developments and through strategic, complementary acquisitions, we look forward to updating the market further on our continued progress." Analyst Mark Photiades at Canaccord Genuity Capital Markets rates the group's shares as a Buy, with a price objective of 345p compared to the 171.25p market price.He is looking for the last year to have seen sales lift to £489.8m (£380.7m), while adjusted pre-tax profits almost quadrupled to £18.7m (£4.5m), lifting earnings up to 21.6p (8.2p) and covering a 9.2p (6.8p) dividend per share.Photiades has pencilled in £515.8m sales this year, £20.6m profits, 22.9p earnings and a 9.8p dividend per share.The £121m capitalised group, with 27 depots across the UK, specialises in selling and delivering impulse products, frozen and chilled foods, alcohol, groceries and tobacco to approximately 39,000, mainly independent, customers.I see these shares, which hit 194p in mid-August, and are now 172.25p, easily breaking through the 200p level soon.
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Posted at 13/7/2022 22:21 by tole
https://masterinvestor.co.uk/equities/kitwave-group-very-positive-first-half-performance-points-the-way-upwards/Kitwave Group – very positive first half performance points the way upwardsBy Mark Watson-Mitchell 13 July 2022 3 mins. to readKitwave Group – very positive first half performance points the way upwardsEarlier last week the North Shields-based Kitwave Group (LON:KITW) announced its interim results for the six months to end May this year.They showed a real recovery bounce in its business, returning to its pre-pandemic levels, with particularly strong demand in the latter part of the first half.They also brought about significant broker upgrades in profit expectations.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 27 depots across the country.The company, which floated on AIM in May last year, has the following operating segments:Ambient (which last year made up 42.7% of the group's sales): providing delivered wholesale of ambient food, drink and tobacco products;Frozen & Chilled (41.7%): delivering wholesale of frozen and chilled food products; andFoodservice (15.6%): providing delivered wholesale of alcohol, frozen and chilled food to trade customers.Its customersSupplying some 39,000 customers Kitwave specialises in selling and delivering 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.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.Acquisition StrategyApart from looking to drive its organic growth, the group's highly successful strategy is still focused upon the acquisition of smaller regional players across the fragmented UK grocery and foodservice wholesale market.Since 2011 the group has acquired and integrated 11 wholesale distributor businesses.The EquityThere are currently 70m shares in issue.The larger holders include Paul Young, CEO (15.7%), Liontrust Investment Partners (16.6%), Premier Fund Managers (9.00%), Harwood Capital (5.98%), Canaccord Genuity Wealth (5.06%), Chelverton Asset Management (5.01%), BlackRock Investment Management UK (5.00%), Ninety One UK (5.00%), Threadneedle Asset Management (3.86%) and BMO Asset Managers (3.09%).The Directors and associates, including Paul Young, hold about 19.7% of the group's equity.The Latest ResultsThe first six months saw revenue up 51.8% to £223.3m (£147.1m), with the group's adjusted pre-tax profits up to £6.2m (loss £1.6m).It showed strong cash generation in the opening period, some £17.1m (£9.8m)The group's CEO Paul Young stated that:"The outlook for the UK economy is dominated by cost-of-living issues which provide an element of uncertainty in relation to end consumer demand for the group's products.While the Board is cognisant that these issues could impact trading in future periods, given the better-than-expected performance in H1 and the strong start to H2, we expect to be significantly ahead of expectations for the current year."Brokers ViewAnalyst Mark Photiades, at the group's NOMAD and broker Canaccord Genuity, upgraded his price objective and his profit estimates on the back of this week's figures.For the current year to end October he forecasts sales rising from £380.7m to £489.8m, upon which he sees the group more than quadrupling the adjusted pre-tax profits to £18.7m (£4.5m), with earnings of 21.6p (8.2p) and a dividend of 9.2p (6.8p) per share.Without the benefit of any further acquisitions, he goes for the coming year to record £515.8m sales, £20.6m profits. 22.9p earnings and a 9.8p per share dividend.The broker states that it sees scope for the group's shares to re-rate further following the positive Update news.Its price objective has been raised from 255p to a very healthy 345p a share.My ViewThis really stands out as an excellent purchase at the current 172p, at which level the shares trade on a current year price-to-earnings ratio of 7.6 times, yielding a useful 5.6%.That valuation is far too low in my opinion.This time last year the shares were trading at 177p and have since then been down to 129p.Now with last week's positive Interim results, I see them rising well above my Target Price of 180p that was set on Valentine's Day earlier this year.
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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.
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