MIDAS SHARE TIPS: Food 配達／演説／出産 巨大（な） Kitwave caters to our every need
About 20 years before he was roundly 敗北・負かすd at Waterloo, Napoleon 恐らく 述べるd England as 'a nation of shopkeepers'.?The （人命などを）奪う，主張する was considered 不快な／攻撃, Napoleon got his comeuppance and today, the UK is proud of its 小売 prowess.
In food and drink alone, there are around 90,000 独立した・無所属 蓄える／店s across the country, catering to our last-minute, 地元の and impulse needs. But we are a nation that loves to 得る，とらえる a coffee, a pint or a bite to eat too, and some 350,000 出口s 供給する just that service from the Highlands to the Cornish coast.
Kitwave helps these 商売／仕事s to 機能（する）／行事, 配達するing food and drink from 井戸／弁護士席-known brands to more than 40,000 corner shops, cafes and caterers 全国的な.
Choc 十分な of 製品s: Kitwave's 範囲 含むs Magnum, advertised by Kylie Minogue
?石油 forecourts, care homes, gyms and schools are の中で the group's 顧客 base too but in each 事例／患者, Kitwave is レーザー-焦点（を合わせる） ed on 配達するing what 商売／仕事s want when they need it at a price they can afford.
The 戦略 is working and Kitwave 株, at £3.42, should 証明する rewarding. Based in North 保護物，者s, a few miles from Newcastle, the company started in 1987 with a 選び出す／独身 cash-and-carry 蓄える／店.?
Today, almost 5,000 配達／演説／出産s a day are made from 30 倉庫・駅s. Orders 変化させる in 形態／調整 and size but Kitwave specialises in small, たびたび（訪れる） 減少（する）-offs, 普通の／平均（する）ing £350 a go. 冷気／寒がらせるd and frozen 製品s are 特に popular with retailers, while eateries source almost all their goods from Kitwave, 妨げる／法廷，弁護士業 fresh meat and fish.
The company's 範囲 is 広範囲にわたる, with 44,000 individual 製品s, from Magnum ice cream and McCain 半導体素子s to crisps and Coke to onions and lettuce.
顧客s do not 支払う／賃金 配達／演説／出産 告発（する），告訴（する）／料金s so Kitwave makes money by 追加するing a 示す-up to the 製品s sold. 利ざやs are small, however, and many 商売／仕事s prefe r to have goods 配達するd than take trips to cash-and-carry 出口s.
Results for the 12 months to October 31 証明する the point. Sales rose 20 per cent to £602 million, pre-税金 利益（をあげる）s rose 39 per cent to £25 million and the （株主への）配当 rose 21 per cent to 11.2p.
Looking ahead, there is plenty of 可能性のある for continued strong growth. The 卸売 market is 抱擁する, with 年次の sales of almost £25 billion, 除外するing cigarettes. Large players account for more than half of 歳入s but that still leaves around £10 billion in the 手渡すs of 独立した・無所属 操作者s.
Here, Kitwave is doing better than most, with growth that far はるかに引き離すs its peers.?
The 独立した・無所属 market is also 深く，強烈に fragmented, with hundreds of small players owning one or two 倉庫・駅s and serving 地元の 顧客s only. This 現在のs attractive 取得／買収s for Kitwave, so the group has done 13 取引，協定s in 最近の years and more are 推定する／予想するd.
創立者 Paul Young, 67, is retiring this summer but his 後継者, Ben Maxted, has been with the 商売／仕事 for more than a １０年間 and knows it inside-out.?
A youthful 40, Maxted is keen to 改善する 利益（をあげる） 利ざやs and 生産性 by making the best use of 科学（工学）技術, from 大勝する mappers for drivers to headphones that help 倉庫／問屋 労働者s navigate orders more 効果的に.
Online ordering is on the up too, with 普通の／平均（する） orders growing as 顧客s are 現在のd with a plethora of 製品 選択s. The re is also a pipeline of 取得／買収s, as Maxted and 財政／金融 director David Brind have a 幅の広い 網状組織 of 接触するs and can source 取引，協定s before they 攻撃する，衝突する the open market.
There will be no 過激な 出発 from Young's tried and 実験（する）d 決まり文句／製法, however. 配達するing thousands of goods to thousands of 顧客s day in, day out is a 需要・要求するing 仕事. Plenty can go wrong and 顧客s can be fickle.?
Kitwave's success is built on developing 関係s with its 供給者s, understanding its 顧客s and 確実にするing that goods are in 在庫／株 and 配達するd on time to the 商売／仕事s that need them.
The company joined 目的（とする） in 2021 and is 得るing the 利益s with greater 承認 across its market. 仲買人s are 楽観的な about prospects, 予測（する）ing sales of £660 million and 利益（をあげる）s of £29 million for this year, with a （株主への）配当 of 12.7p. Maxted and Brind are keen to reward 株主s and Kitwave's balance sheet is strong so 安定した （株主への）配当 growth is 推定する／予想するd.
Midas 判決: Kitwave is a North East success story, catering to shopkeepers, cafe owners and dinner ladies. It 配達するd strong growth as a 私的な company, and has continued in that vein since 名簿（に載せる）／表（にあげる）ing three years ago. At £3.42, the 株 are a buy.
貿易（する）d on: AIM Ticker: KITW 接触する: kitwave.co.uk or 0191 259 2277
