…and some to hold, avoid or sell

Howden Joinery Investors Chronicle

The kitchens firm has had a tough year of escalating cost pressures, including a £41.4m pensions bill and increased investment in distribution. It’s questionable if the outlay will be matched by earnings growth. Sell. 485p.

International Personal Finance Investors Chronicle

Despite enjoying growth in Mexico and southern Europe, the sub-prime lender faces a worrying profit decline in its northern European markets due to “regulatory headwinds”. Sell. 220.8p.

Intertek The Times

The quality-assurance firm has posted strong annual results, with revenues up 7.9% in 2017, and is now eyeing outsourcing for growth. But those prospects are already built into the price. Hold. £50.

IWG The Times

Serviced offices are big business, yet former pioneer Regus (now owned by IWG) has fallen behind – despite its hip, millennial-friendly brand, Spaces. However, fending off a takeover has forced IWG to slim down and raise the dividend. Hold. 242.5p.

M.J. Gleeson The Daily Telegraph

The housebuilder has posted strong interim results, along with a “meaty” rise in the first-half dividend. But shares, now at twice the forecast asset value, are expensive and a little profit-taking “seems sensible”. Take profits. 780p.

Trinity Mirror Investors Chronicle

After getting the green light for its Express newspapers deal, the Mirror publisher is looking to expand and cut costs. Given ongoing declines in revenue, circulation and advertising demand, good housekeeping may not be enough. Sell. 78p.