Howden weathers demanding markets

Howden Joinery Group said trading had been maintained into the second half and 2012 cash flow should be stronger than expected.

Trading performance was on track for the year as a whole despite demanding conditions, the company added.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

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

The firm said this reflected a focus on price discipline and margin within the depots, which had delivered improved profitability.

In the first 44 weeks of the form's financial year revenue was up 4.3%, rising 2.2% on a same depot basis.

Howden's also said it was closing two small non-core support businesses, which would result in an exceptional charge in respect of discontinued operations in 2012 of around £3m.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.