Howden Joinery trading 'well ahead' of pre-Covid levels
Howden Joinery, which has depots across the West Midlands, has posted a jump in first-half profit and revenue.
The group, which has sites in the Black Country and at Cannock, Kidderminster and Telford, said it was trading "well ahead" of pre-Covid levels and backed its outlook for the year.
The kitchen supplier saw first-half pre-tax profit rise 21.6 per cent to £145 million, with revenues up 16.3 per cent on the year to £913.1 million. Versus 2019 pre-Covid levels, pre-tax profit was up 85.7 per cent and revenues were ahead 39.9 per cent.
It hailed good momentum going into the second half of the year, which includes its all-important peak trading period.
Andrew Livingston, chief executive, said: "Howdens delivered a strong financial performance in the first half, well ahead of pre-Covid levels in 2019, as we continued to manage effectively ongoing inflationary and supply chain pressures. Our sector leading service and well-established and focused growth strategy ensured we continued to outperform the market.
"Our kitchen and joinery markets are large and attractive and we are prioritising investment in future growth through execution of our strategic initiatives.
"Howdens has good momentum going into the second half of the year which includes our all-important peak trading period.
"We will continue to manage inflationary pressures according to market conditions to achieve the right balance between pricing and volume.
"We are confident in our resilient business model while recognising that we will be trading against record revenue comparatives. While watchful of market conditions and consumer sentiment, the group remains on track with its outlook for the full year."
