Howdens sees uplift in UK revenue for first half of 2019
The group said it has taken a ‘number of measures’ in preparation for a no-deal Brexit
Howden Joinery Group has reported a 5.5% increase in UK revenue, reaching £638.1m, for the first half of 2019, while group revenue reached £652.6m and pre-tax profit sat at £78.1m – a rise from the £68.8m recorded in the same period in 2018.
The group opened 15 new depots in the period, including five in Northern Ireland and one in France, bringing the total number in operation to 731. Howdens also introduced eight new kitchen ranges in the period.
“We have made good progress with our new initiatives, focusing on depot openings and our new format, range management and the development of our digital platform,” said Howdens CEO Andrew Livingston.
“We are encouraged by the start we have made to the year and, despite the economic uncertainties ahead, remain confident in our business model. With our peak trading period still ahead of us, we are on track with our plans for the year as a whole.”
Howdens said it plans to open around 40 depots in the UK over the whole of 2019. The group added that it remains “cautious given economic uncertainties, particularly the impact that Brexit might have”.
The group said it has taken a “number of measures” in preparation for a no-deal Brexit, including adjusting its stocking policy for at-risk items and looking at option for its inbound supply routes to reduce potential customs delays.