Kitchen supplier Howden Joinery said half year profit rose following improved sales at its UK depots as expectations for the year as a whole remain unchanged.
On a cautionary note, chief executive Matthew Ingle said the group is cautious about the outlook in what remain difficult market conditions and it will continue to respond to the prevailing conditions.
The firm, which supplies kitchen, bathroom cabinet and joinery products, said UK depot revenue increased by 6.8% to £357.7m during the half year to 9 June 2012 and rose 5% on a same depot basis.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Total pre-tax profit climbed to £25.4m from £23.5m while group revenue rose to £364.6m from £341.7m in 2011.
Gross profit margin increased to 60.1% from 59.3% a year earlier while operating profit rose to £29.1m from £25.5m before.
Howden, which resumed its dividend payments this March this year after a four-year break, has declared an interim payment of 0.3p per share.
CJ
-
Barclays begins paying up to £100 compensation to customers after banking outageBarclays will pay up to £7.5 million in compensation to customers after its banking services were disrupted by an IT outage
-
Review: Shangri-La Paris – an ode to the world’s best foodNatasha Langan enjoys fine French and Chinese cuisine at the Shangri-La Paris
