Howden Joinery H1 profits, revenue rise despite challenging market
Howden Joinery Group Plc posted a jump in first-half profit and revenue on Thursday as it continued to gain market share despite a challenging market.
First-half pre-tax profit rose 4.4% to £117.2m on sales of £997.6m, up 3.2% on the same period a year earlier.
The interim dividend per share was lifted 2% to 5p.
Howdens highlighted continued market share gains, aided by its £11m investment in strategic initiatives.
The company - which supplies kitchens and joinery products - said there was a strong close to the period in the first half, "reflecting well executed promotions and sales incentives".
Howdens said its performance since the start of the second half has been in line with its expectations and results are second-half weighted, given the autumn peak trading period.
Chief executive Andrew Livingston said: "Howdens performed well in the first half, gaining further market share. The ongoing investment in our strategic initiatives is strengthening our competitive position, and our current trading performance gives us confidence in achieving our full year plans.
"We are well prepared for the second half, which includes our seasonally important peak trading period. This includes Howdens' best-ever line-up for kitchens, available for 2025 in more colours, styles, and finishes to suit all budgets.
"While market conditions remain challenging, our trade customers are highly skilled at winning work in such times backed by Howdens' well-incentivised depot teams, unrivalled product quality and industry leading stock availability."
At 0915 BST, the shares were up 10.5% at 924.00p.
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