Advertisement

Buoyant first quarter trading at Howden Joinery

Kitchens and joinery products group Howden Joinery said trading so far this year has been solid and in line with company expectations as it plans to open a string of new joinery depots.

Kitchens and joinery products group Howden Joinery said trading so far this year has been solid and in line with company expectations as it plans to open a string of new joinery depots.

UK revenue rose 9.3% in the first 16 weeks of 2013 from the same period last year. On a same depot basis it increased 7.6%. Sales during the period benefited from an additional week of trading.

Advertisement - Article continues below

On a like-for-like (LFL) basis revenue was up by 4.1% while gross profit margins were in line with market expectations for the full year.

"We are currently planning to open around 20 to 30 new depots this year. With one new depot having been opened so far, Howden Joinery is now trading from 530 depots in the UK," the group explained.

The group currently operates from 530 depots in the UK.

"We have reconfigured our transport operations to better reflect the geographical mix of our sales in the UK and improve service to our depots. This will result in an exceptional charge and cash cost in respect of continuing operations in the first half of 2013 of about £5m."

Otherwise Howden said it was pleased with its performance so far this year, "whilst remaining cautious about the outlook for the rest of the year, given the prevailing economic environment."

CJ

Advertisement
Advertisement

Recommended

Visit/investments/investment-strategy/601044/broker-safety-your-questions-answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Visit/investments/investment-strategy/600861/how-demographics-affects-stock-valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Visit/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Visit/investments/stockmarkets/600634/why-investors-should-be-cautiously-bullish-for-2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Visit/investments/property/601606/house-prices-crash-uk-property-prices-falling-where-next
Property

House price crash: UK property prices are falling – so where next?

With UK property prices falling for the first time in eight years, are we about to see a house price crash? John Stepek looks at what’s behind the sli…
2 Jul 2020
Visit/economy/inflation/601584/the-end-of-the-bond-bull-market-and-the-return-of-inflation
Inflation

The end of the bond bull market and the return of inflation

Central bank stimulus, surging post-lockdown demand and the end of the 40-year bond bull market. It all points to inflation, says John Stepek. Here’s …
30 Jun 2020
Visit/investments/stockmarkets/601611/nasdaq-all-time-high-markets-and-the-real-economy
Stockmarkets

How can markets hit new record highs when the economy is in such a mess?

Despite the world being in the midst of a global pandemic, America's Nasdaq stock index just hit an all-time high. And it's not the only index on a bu…
3 Jul 2020