Kitchen, joinery and bedroom furniture supplier Howdens has reported a slight uptick in sales and profit.
According to its 2024 full year results, total sales rose 0.5% to £2.32bn from £2.31bn in 2023. UK sales were flat at £2.2bn, while international revenues rose 7% to £74.7m.
Gross profit margin increased from 60.8% to 61.6%, with pre-tax profit resulting at £328.1m, up 0.2% from £327.6m year-on-year.
During the year, Howdens opened 29 new UK depots as well as three within its international arm, bringing its year-end total to 869 depots in the UK, 65 in France and Belgium and 13 in Ireland. It plans to open 20 UK depots during the year ahead.
Commenting on the results Andrew Livingston, Chief Executive said: “Howdens performed well in a challenging market, gaining further market share. We continued to invest in developing our kitchen and joinery ranges, opening more depots, and in new digital capabilities. We are also investing in our manufacturing operations and supply chain to support our trade customers with high-quality, easy-to-fit products that are reliably in stock.
“Whilst we anticipate the kitchen market is likely to contract further in 2025, we are confident that our differentiated model, combined with our strategic initiatives, mean we are well placed to gain further market share. Reflecting the Group’s strong financial position, we have announced today a new £100m share buyback programme while continuing to invest in the business.”
