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.

Revenue from UK depots was 2.2% higher than the previous year in the period from 10th June to 27th October.

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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.