Howden Joinery 'performs well in challenging marketplace'
Posted: Monday, July 24th, 2023
The specialist trade kitchen and joinery supplier, with depots in Black Country and Shropshire, posted half-year revenue of £926.9m, up 1.5% from £913.1 million, according to Express & Star. The company said UK revenue grew by 0.6%. However, pre-tax profit was down to £111.9m compared to £145m at the same point last year. Andrew Livingston, chief executive said: "Howdens performed well in the first half in a more challenging marketplace, making progress on the record year we delivered in 2022. "Our trade-only, in-stock model is hard to replicate and compete with, and we are continuing to invest in our strategic initiatives to drive growth. "We are delivering value to our customers at all price points as we continue to gain market share and we are well set up for further success in the second half, which includes our Autumn peak trading period. "The combination of more local depots in convenient locations, an ever-stronger product line-up, first-class service and high stock availability, continues to represent a compelling proposition for our customers. “While we are cautious about the short-term macroeconomic outlook for our markets, we remain confident that Howdens will make good progress in 2023 and our full-year expectations are unchanged."
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