Kitchen supplier Howdens has announced growing sales as it continues to expand its depot footprint.
According to its latest trading update for 16 weeks to 16 April 2022, total sales rose by 21.8% overall and by 20.1% on a same depot basis, compared to the equivalent periods last year.
Revenue growth reflected both increases in prices and volume. On a local currency basis, depot revenue in Continental Europe increased by 21.8% and by 24.2%2 on a same depot basis, compared to the equivalent periods last year.
Commenting on Howdens’ current trading Andrew Livingston, Chief Executive said: “The Group has traded well in the first four periods of 2022 and we continue to invest in our in-stock, trade-only, local business model. We are mindful that it is still early in the financial year and our second half includes our all-important peak trading period.
“In addition, given an uncertain macro-economic environment, including rising inflation and energy costs we are staying vigilant for any potential headwinds in our markets. However, we remain confident in our business model and with the strong start to the year, the Group remains on track with its outlook for 2022.”
Howdens said it plans to open around 25 new depots in the UK, 25 in France and five in the Republic of Ireland during 2022, while in addition to refurbishing around 70 older UK depots.
“We are making good progress with new product introductions for 2022, including 20 new kitchens, and ongoing investment in expanding our manufacturing and supply chain capabilities. This includes the rollout of the regional cross-docking facilities (XDC) and warehousing capacity to support high levels of stock availability. Digital investments continue to support our customers and improve productivity,” the company added.