Waiting for a trend at Nurdin
Thursday 13 April 1995
The result was yesterday's announcement that profits in the year to December had halved to £16.5m, hit by trading losses from Cargo Club and £4m in costs relating to the conversion of outlets to the TBW format.
But that was last year and, according to Dickie Fulford, chairman, this year will be different. He points to improving like-for-like sales since the year-end as encouraging signs that the market is beginning to turn. The success of the National Lottery is enticing customers into the independent retailers that form N&P's core customer base and having a knock-on effect on other purchases. The hope is that when customers pick uplottery tickets they will also buy a tin ofbaked beans or something similar. But analysts are concerned the upturn in sales mightbe a blip rather than a long-term trend and that thesectorcould look adull prospect again in a year or two.
They would like to see Nurdin form a buying partnership to increase its purchasing power, butthe company is not convinced it can find a suitable partner.
The shares have recovered from a 12-month low of 138pin December to 188p yesterday.NatWest Securities forecasts profits of £30.6m for the current year, putting theshares on a prospective price-earnings ratio of 11.3, a justified discount to the sector until a clearer picture of trading emerges. Hold for now.
- 1 Sofyen Belamouadden murder: The inside story of a crime that horrified Britain
- 2 How to turn off/stop 'seen by' on Facebook: Disable it to make your chats seem less passive aggressive
- 3 Company breaks open Apple Watch to discover what it says is 'planned obsolescence'
- 4 'We're not heroes, just tourists': Swedish police officers on holiday stop vicious assault on New York subway
- 5 Buckingham Palace guard who attacked passers-by in 'most most violent piece of CCTV footage' police officer had seen walks free
The sickening truth about food banks that the Tories don't want you to know
Migrant boat disaster: Ukip candidate mocks victims in sickening Twitter post
Nigel Farage wants the BBC to stop making programmes like Doctor Who, Strictly Come Dancing, and Top Gear
Global warming: Scientists say temperatures could rise by 6C by 2100 and call for action ahead of UN meeting in Paris
General Election 2015: Britain would become a 'communist dictatorship' under Ed Miliband and Nicola Sturgeon, claims wife of Michael Gove
Rupert Murdoch berated Sun journalists for not doing enough to attack Ed Miliband and stop him winning the general election
iJobs Money & Business
£50000 - £55000 per annum: Ashdown Group: Business Analyst - Financial Service...
£18000 - £23000 per annum + OTE £45K: SThree: At SThree, we like to be differe...
£20000 - £25000 per annum + competitive: SThree: Did you know? SThree is the o...
£22000 - £24000 per annum: Recruitment Genius: This is an opportunity to join ...